Pictet Asset Management Holding SA Purchases 152,965 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Pictet Asset Management Holding SA raised its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 903,909 shares of the apparel retailer's stock after purchasing an additional 152,965 shares during the quarter. Pictet Asset Management Holding SA owned 0.74% of Lululemon Athletica worth $345,664,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth $370,062,000. Norges Bank acquired a new stake in Lululemon Athletica in the 4th quarter valued at $142,235,000. Maverick Capital Ltd. purchased a new position in Lululemon Athletica in the third quarter valued at about $93,476,000. Southpoint Capital Advisors LP purchased a new position in Lululemon Athletica in the third quarter valued at about $81,405,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Lululemon Athletica by 248.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 85.20% of the company's stock.

Lululemon Athletica Stock Performance

Shares of LULU stock traded down $48.47 during trading on Friday, hitting $293.06. 12,900,347 shares of the company were exchanged, compared to its average volume of 2,144,794. The business's 50-day simple moving average is $364.63 and its 200 day simple moving average is $339.62. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21.

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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 the consensus estimate of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company earned $5.29 EPS. The firm's revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America dropped their target price on Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Lululemon Athletica from $437.00 to $391.00 and set an "overweight" rating for the company in a report on Friday. Telsey Advisory Group dropped their price target on shares of Lululemon Athletica from $445.00 to $385.00 and set an "outperform" rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a "hold" rating in a report on Monday, December 9th. Finally, Barclays decreased their price objective on shares of Lululemon Athletica from $411.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $380.72.

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.