Cornerstone Wealth Management LLC decreased its stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 18.7% during the third quarter, Holdings Channel reports. The fund owned 20,196 shares of the apparel retailer’s stock after selling 4,649 shares during the period. Cornerstone Wealth Management LLC’s holdings in Lululemon Athletica were worth $326,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of LULU. Laurion Capital Management LP increased its holdings in shares of Lululemon Athletica by 6,457.1% during the 2nd quarter. Laurion Capital Management LP now owns 1,606,478 shares of the apparel retailer’s stock valued at $200,569,000 after acquiring an additional 1,581,978 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Lululemon Athletica in the 2nd quarter valued at approximately $130,068,000. BlackRock Inc. grew its holdings in Lululemon Athletica by 19.3% in the 2nd quarter. BlackRock Inc. now owns 6,030,449 shares of the apparel retailer’s stock valued at $752,900,000 after buying an additional 974,511 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Lululemon Athletica by 10,743.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 858,676 shares of the apparel retailer’s stock valued at $107,206,000 after buying an additional 850,757 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Lululemon Athletica by 91.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,000,498 shares of the apparel retailer’s stock valued at $124,912,000 after buying an additional 476,803 shares during the last quarter. 79.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of LULU stock opened at $141.13 on Wednesday. Lululemon Athletica inc. has a 12 month low of $59.93 and a 12 month high of $164.79. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.06 and a beta of 0.38.
Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 30th. The apparel retailer reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.22. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. The company had revenue of $723.50 million during the quarter, compared to the consensus estimate of $669.14 million. During the same quarter last year, the company earned $0.39 EPS. On average, sell-side analysts expect that Lululemon Athletica inc. will post 3.58 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. B. Riley raised their target price on Lululemon Athletica from $112.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Zacks Investment Research lowered Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Citigroup raised their target price on Lululemon Athletica from $112.00 to $127.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. BidaskClub raised Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 22nd. Finally, Cowen set a $185.00 target price on Lululemon Athletica and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Thirteen analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Lululemon Athletica presently has an average rating of “Buy” and a consensus price target of $154.36.
Lululemon Athletica Profile
lululemon athletica inc., an athletic apparel company, 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.
Featured Article: Insider Trading – What You Need to Know
Want to see what other hedge funds are holding LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lululemon Athletica inc. (NASDAQ:LULU).
Receive News & Ratings for Lululemon Athletica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lululemon Athletica and related companies with MarketBeat.com's FREE daily email newsletter.