Alliancebernstein L.P. lowered its stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 85.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,938 shares of the apparel retailer’s stock after selling 376,072 shares during the period. Alliancebernstein L.P.’s holdings in Lululemon Athletica were worth $10,714,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in LULU. Eagle Asset Management Inc. bought a new stake in Lululemon Athletica in the 3rd quarter valued at $80,637,000. National Asset Management Inc. bought a new stake in Lululemon Athletica in the 3rd quarter valued at $208,000. DE Burlo Group Inc. bought a new stake in Lululemon Athletica in the 3rd quarter valued at $7,962,000. Piedmont Investment Advisors Inc. raised its stake in Lululemon Athletica by 42.9% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 9,971 shares of the apparel retailer’s stock valued at $1,620,000 after acquiring an additional 2,993 shares during the period. Finally, Periscope Capital Inc. bought a new stake in Lululemon Athletica in the 3rd quarter valued at $310,000. Institutional investors own 79.24% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group increased their price target on Lululemon Athletica from $164.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada dropped their price target on Lululemon Athletica to $165.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley increased their price target on Lululemon Athletica from $133.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday. DA Davidson dropped their price target on Lululemon Athletica to $145.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Guggenheim restated a “buy” rating and issued a $165.00 price target on shares of Lululemon Athletica in a research note on Thursday. Thirteen analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $157.67.
LULU opened at $113.87 on Friday. The firm has a market cap of $17.69 billion, a PE ratio of 43.97, a P/E/G ratio of 1.94 and a beta of 0.37. Lululemon Athletica inc. has a 52-week low of $72.13 and a 52-week high of $164.79.
Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 6th. The apparel retailer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $747.70 million for the quarter, compared to analyst estimates of $736.10 million. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. Lululemon Athletica’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. Research analysts anticipate that Lululemon Athletica inc. will post 3.59 earnings per share for the current year.
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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.
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