Canada Pension Plan Investment Board Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Canada Pension Plan Investment Board trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 59.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,463 shares of the apparel retailer's stock after selling 69,811 shares during the period. Canada Pension Plan Investment Board's holdings in Lululemon Athletica were worth $18,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its position in Lululemon Athletica by 1,360.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 146 shares of the apparel retailer's stock worth $56,000 after acquiring an additional 136 shares during the period. Avenir Corp raised its holdings in shares of Lululemon Athletica by 4.8% in the 4th quarter. Avenir Corp now owns 123,305 shares of the apparel retailer's stock worth $47,153,000 after purchasing an additional 5,658 shares during the period. Marshall Wace LLP lifted its stake in Lululemon Athletica by 14.8% in the fourth quarter. Marshall Wace LLP now owns 65,704 shares of the apparel retailer's stock valued at $25,126,000 after purchasing an additional 8,493 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Lululemon Athletica by 4.0% during the fourth quarter. NewEdge Advisors LLC now owns 3,662 shares of the apparel retailer's stock valued at $1,400,000 after purchasing an additional 141 shares during the period. Finally, Evergreen Capital Management LLC increased its position in Lululemon Athletica by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 29,234 shares of the apparel retailer's stock worth $11,179,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LULU. Raymond James restated a "market perform" rating and issued a $430.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 28th. Sanford C. Bernstein raised shares of 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 report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on shares of Lululemon Athletica from $313.00 to $302.00 and set a "market perform" rating for the company in a research note on Friday, March 28th. Oppenheimer raised their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.28.

Lululemon Athletica Price Performance

LULU stock traded up $4.79 during trading on Thursday, hitting $270.64. 1,282,924 shares of the stock traded hands, compared to its average volume of 2,225,361. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The firm's 50 day moving average is $309.91 and its two-hundred day moving average is $338.09.

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 for the quarter, beating the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm earned $5.29 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

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.