Pinebridge Investments L.P. Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinebridge Investments L.P. cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,093 shares of the apparel retailer's stock after selling 55,059 shares during the quarter. Pinebridge Investments L.P.'s holdings in Lululemon Athletica were worth $7,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LULU. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica during the 4th quarter valued at $275,000. Nutshell Asset Management Ltd bought a new position in shares of Lululemon Athletica during the fourth quarter valued at about $956,000. Lebenthal Global Advisors LLC lifted its position in shares of Lululemon Athletica by 138.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer's stock valued at $1,032,000 after purchasing an additional 1,565 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in Lululemon Athletica by 495.1% during the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer's stock worth $1,627,000 after purchasing an additional 3,540 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new stake in Lululemon Athletica in the 4th quarter worth about $17,775,000. Institutional investors own 85.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Lululemon Athletica from $391.00 to $389.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Robert W. Baird cut their price objective on Lululemon Athletica from $450.00 to $370.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Evercore ISI upped their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup set a $330.00 target price on Lululemon Athletica and gave the stock a "negative" rating in a research note on Friday, March 28th. Finally, Bank of America reduced their price target on shares of Lululemon Athletica from $480.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $372.28.

Lululemon Athletica Stock Down 1.0 %

NASDAQ:LULU traded down $2.74 during mid-day trading on Friday, hitting $267.90. 1,422,240 shares of the stock traded hands, compared to its average volume of 2,228,853. The business's 50-day moving average price is $305.90 and its 200 day moving average price is $338.91. The company has a market cap of $32.32 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. 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 released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.29 EPS. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Lululemon Athletica Company 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.