Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,534 shares of the apparel retailer’s stock after selling 201 shares during the period. Byrne Asset Management LLC’s holdings in Lululemon Athletica were worth $717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LULU. Price T Rowe Associates Inc. MD lifted its stake in Lululemon Athletica by 95.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer’s stock valued at $1,854,160,000 after acquiring an additional 2,371,079 shares during the period. Mawer Investment Management Ltd. acquired a new stake in Lululemon Athletica during the 4th quarter valued at approximately $523,520,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Lululemon Athletica in the 4th quarter valued at $370,062,000. Alliancebernstein L.P. lifted its stake in shares of Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after purchasing an additional 571,657 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Lululemon Athletica by 37,062.1% in the 1st quarter. GAMMA Investing LLC now owns 563,006 shares of the apparel retailer’s stock valued at $159,364,000 after purchasing an additional 561,491 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on LULU. Citigroup decreased their target price on shares of Lululemon Athletica from $325.00 to $270.00 and set a “neutral” rating for the company in a research note on Friday, June 6th. Needham & Company LLC decreased their target price on shares of Lululemon Athletica from $366.00 to $317.00 and set a “buy” rating for the company in a research note on Friday, June 6th. Raymond James reiterated a “market perform” rating and issued a $430.00 target price on shares of Lululemon Athletica in a research note on Friday, March 28th. Piper Sandler boosted their target price on shares of Lululemon Athletica from $280.00 to $315.00 and gave the company a “neutral” rating in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their target price on shares of Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.26.

Lululemon Athletica Trading Down 3.2%

Lululemon Athletica stock opened at $239.11 on Friday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $423.32. The stock has a market cap of $28.85 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.26. The company has a 50-day moving average price of $284.75 and a 200 day moving average price of $335.60.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the business earned $2.54 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Lululemon Athletica Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.