World Asset Management Inc increased its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,890 shares of the apparel retailer’s stock after acquiring an additional 325 shares during the period. World Asset Management Inc’s holdings in Lululemon Athletica were worth $1,061,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new position in Lululemon Athletica during the 1st quarter valued at about $25,000. SevenBridge Financial Group LLC purchased a new position in Lululemon Athletica during the 2nd quarter valued at about $35,000. Cullen Frost Bankers Inc. purchased a new position in Lululemon Athletica during the 1st quarter valued at about $33,000. Cordasco Financial Network purchased a new position in Lululemon Athletica during the 2nd quarter valued at about $36,000. Finally, Winslow Evans & Crocker Inc. increased its holdings in Lululemon Athletica by 2,000.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 210 shares of the apparel retailer’s stock valued at $38,000 after purchasing an additional 200 shares during the period. 81.13% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on LULU. Needham & Company LLC restated a “hold” rating on shares of Lululemon Athletica in a report on Thursday, June 13th. Morgan Stanley boosted their price target on Lululemon Athletica from $160.00 to $163.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Royal Bank of Canada restated an “equal weight” rating on shares of Lululemon Athletica in a report on Friday, June 14th. B. Riley boosted their price target on Lululemon Athletica from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Finally, Wells Fargo & Co set a $210.00 price target on Lululemon Athletica and gave the company an “outperform” rating in a report on Thursday, June 13th. Ten research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $190.34.
Shares of Lululemon Athletica stock traded down $7.32 during midday trading on Friday, hitting $178.13. The company had a trading volume of 61,232 shares, compared to its average volume of 1,294,442. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. The firm has a market cap of $23.99 billion, a PE ratio of 46.39, a P/E/G ratio of 2.22 and a beta of 0.64. The firm has a 50 day moving average price of $185.19. Lululemon Athletica inc. has a 52-week low of $110.71 and a 52-week high of $194.25.
Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $782.30 million for the quarter, compared to the consensus estimate of $755.92 million. Lululemon Athletica had a return on equity of 38.77% and a net margin of 14.77%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. As a group, equities analysts expect that Lululemon Athletica inc. will post 4.7 earnings per share for the current fiscal year.
About Lululemon Athletica
lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.
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