Generate Investment Management Ltd Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Generate Investment Management Ltd cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 38.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,494 shares of the apparel retailer's stock after selling 7,237 shares during the quarter. Generate Investment Management Ltd's holdings in Lululemon Athletica were worth $3,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Savant Capital LLC grew its holdings in Lululemon Athletica by 18.1% in the fourth quarter. Savant Capital LLC now owns 888 shares of the apparel retailer's stock valued at $454,000 after purchasing an additional 136 shares during the period. Natixis Advisors L.P. boosted its holdings in Lululemon Athletica by 28.8% in the 4th quarter. Natixis Advisors L.P. now owns 28,148 shares of the apparel retailer's stock worth $14,392,000 after buying an additional 6,289 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Lululemon Athletica by 736.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,898 shares of the apparel retailer's stock worth $970,000 after buying an additional 1,671 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Lululemon Athletica by 111.1% during the fourth quarter. Merit Financial Group LLC now owns 1,558 shares of the apparel retailer's stock valued at $797,000 after acquiring an additional 820 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of Lululemon Athletica by 7.6% in the fourth quarter. M&T Bank Corp now owns 13,473 shares of the apparel retailer's stock valued at $6,889,000 after acquiring an additional 957 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LULU has been the subject of several recent analyst reports. Oppenheimer restated an "outperform" rating and set a $445.00 price objective on shares of Lululemon Athletica in a research report on Thursday, June 6th. Wedbush cut their price objective on Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a report on Wednesday, August 28th. Morgan Stanley lowered their target price on Lululemon Athletica from $329.00 to $326.00 and set an "overweight" rating for the company in a report on Sunday. Wells Fargo & Company cut their price target on shares of Lululemon Athletica from $350.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein decreased their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $354.94.

Lululemon Athletica Price Performance

Shares of LULU stock traded down $1.39 during mid-day trading on Tuesday, hitting $258.08. The stock had a trading volume of 3,070,247 shares, compared to its average volume of 2,140,837. The firm has a market cap of $32.26 billion, a PE ratio of 20.46, a PEG ratio of 1.40 and a beta of 1.26. The company's 50-day simple moving average is $270.51 and its 200-day simple moving average is $336.76. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.69% and a net margin of 16.34%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 EPS. On average, analysts expect that Lululemon Athletica Inc. will post 13.9 EPS for the current year.

Lululemon Athletica announced that its board has initiated a share buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the apparel retailer to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.