Bank of Nova Scotia Raises Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Bank of Nova Scotia boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 33.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,160 shares of the apparel retailer's stock after buying an additional 16,623 shares during the period. Bank of Nova Scotia owned approximately 0.05% of Lululemon Athletica worth $25,300,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FIL Ltd increased its position in Lululemon Athletica by 905.0% during the fourth quarter. FIL Ltd now owns 39,144 shares of the apparel retailer's stock valued at $14,969,000 after acquiring an additional 35,249 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $340,000. Waterloo Capital L.P. bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at $269,000. Quadrant Capital Group LLC increased its stake in shares of Lululemon Athletica by 28.0% in the 4th quarter. Quadrant Capital Group LLC now owns 594 shares of the apparel retailer's stock worth $227,000 after purchasing an additional 130 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its position in Lululemon Athletica by 100.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 20,000 shares of the apparel retailer's stock valued at $7,648,000 after purchasing an additional 10,000 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

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Lululemon Athletica Stock Up 1.7 %

Shares of NASDAQ:LULU traded up $4.41 during midday trading on Friday, reaching $261.03. The company's stock had a trading volume of 1,959,792 shares, compared to its average volume of 2,239,572. The firm has a market capitalization of $31.49 billion, a PE ratio of 18.85, a P/E/G ratio of 2.22 and a beta of 1.31. The stock has a fifty day moving average of $332.40 and a 200 day moving average of $339.26. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.85 by $0.29. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $5.29 earnings per share. Sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LULU has been the topic of several recent research reports. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $360.00 to $460.00 in a research note on Tuesday, January 7th. Citigroup set a $330.00 price target on Lululemon Athletica and gave the stock a "negative" rating in a research note on Friday, March 28th. UBS Group dropped their price objective on Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Raymond James reissued a "market perform" rating and issued a $430.00 price target on shares of Lululemon Athletica in a report on Friday, March 28th. Finally, Barclays cut their target price on shares of Lululemon Athletica from $411.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $371.79.

About Lululemon Athletica

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.