SG Americas Securities LLC cut its stake in Lululemon Athletica inc. (NASDAQ:LULU) by 45.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,448 shares of the apparel retailer’s stock after selling 15,101 shares during the period. SG Americas Securities LLC’s holdings in Lululemon Athletica were worth $3,325,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new stake in shares of Lululemon Athletica during the first quarter worth approximately $25,000. SevenBridge Financial Group LLC bought a new stake in shares of Lululemon Athletica during the second quarter worth approximately $35,000. Cullen Frost Bankers Inc. bought a new stake in shares of Lululemon Athletica during the first quarter worth approximately $33,000. Cordasco Financial Network bought a new stake in shares of Lululemon Athletica during the second quarter worth approximately $36,000. Finally, Winslow Evans & Crocker Inc. raised its stake in shares of Lululemon Athletica by 2,000.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 210 shares of the apparel retailer’s stock worth $38,000 after buying an additional 200 shares during the last quarter. 82.69% of the stock is owned by institutional investors.
LULU has been the subject of a number of recent research reports. Bank of America boosted their price target on shares of Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Deutsche Bank boosted their price objective on shares of Lululemon Athletica from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Argus boosted their price objective on shares of Lululemon Athletica to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Co set a $210.00 price objective on shares of Lululemon Athletica and gave the company an “outperform” rating in a report on Thursday, June 13th. Finally, Canaccord Genuity boosted their price objective on shares of Lululemon Athletica from $191.00 to $194.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Eleven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $190.34.
In other news, Director David M. Mussafer sold 4,484 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $186.10, for a total value of $834,472.40. Following the completion of the transaction, the director now owns 18,947 shares in the company, valued at $3,526,036.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.
Lululemon Athletica stock opened at $175.63 on Wednesday. The firm has a market capitalization of $23.40 billion, a PE ratio of 45.74, a PEG ratio of 2.12 and a beta of 0.62. Lululemon Athletica inc. has a twelve month low of $110.71 and a twelve month high of $194.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 1.45. The firm has a 50 day moving average of $184.83.
Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company had revenue of $782.30 million during the quarter, compared to analysts’ expectations of $755.92 million. Lululemon Athletica had a net margin of 14.77% and a return on equity of 38.77%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, equities research analysts forecast that Lululemon Athletica inc. will post 4.7 EPS 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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