371,944 Shares in Lululemon Athletica Inc. (NASDAQ:LULU) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 371,944 shares of the apparel retailer's stock, valued at approximately $142,235,000. Norges Bank owned about 0.31% of Lululemon Athletica as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LULU. Diamond Hill Capital Management Inc. purchased a new stake in Lululemon Athletica during the fourth quarter valued at $370,062,000. Los Angeles Capital Management LLC lifted its stake in shares of Lululemon Athletica by 248.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 323,031 shares of the apparel retailer's stock worth $123,530,000 after purchasing an additional 230,349 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Lululemon Athletica in the fourth quarter worth approximately $44,318,000. Public Employees Retirement System of Ohio bought a new stake in Lululemon Athletica during the third quarter valued at approximately $28,517,000. Finally, Principal Financial Group Inc. increased its holdings in Lululemon Athletica by 61.2% during the third quarter. Principal Financial Group Inc. now owns 250,175 shares of the apparel retailer's stock valued at $67,885,000 after buying an additional 94,997 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LULU shares. Guggenheim lifted their target price on Lululemon Athletica from $350.00 to $415.00 and gave the company a "buy" rating in a research report on Friday, December 6th. UBS Group decreased their target price on shares of Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Lululemon Athletica from $437.00 to $391.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Stifel Nicolaus cut their price target on Lululemon Athletica from $438.00 to $424.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Argus lowered Lululemon Athletica from a "buy" rating to a "hold" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $378.31.

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Lululemon Athletica Stock Performance

LULU stock traded up $8.50 during trading on Friday, reaching $264.15. 6,303,189 shares of the company traded hands, compared to its average volume of 2,201,648. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The business has a 50 day simple moving average of $356.31 and a 200 day simple moving average of $339.48. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.29 EPS. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current 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.