Gardner Lewis Asset Management L P Sells 3,483 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Gardner Lewis Asset Management L P reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 29.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,154 shares of the apparel retailer’s stock after selling 3,483 shares during the period. Gardner Lewis Asset Management L P’s holdings in Lululemon Athletica were worth $3,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. purchased a new stake in Lululemon Athletica in the fourth quarter valued at about $370,062,000. Norges Bank acquired a new position in shares of Lululemon Athletica during the fourth quarter valued at about $142,235,000. Maverick Capital Ltd. purchased a new position in shares of Lululemon Athletica in the 3rd quarter valued at approximately $93,476,000. Southpoint Capital Advisors LP acquired a new stake in Lululemon Athletica in the 3rd quarter worth approximately $81,405,000. Finally, Los Angeles Capital Management LLC grew its position in Lululemon Athletica by 248.5% during 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 last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 1.1 %

Shares of Lululemon Athletica stock opened at $341.53 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The firm’s 50-day moving average price is $366.25 and its 200 day moving average price is $338.67. The firm has a market capitalization of $41.59 billion, a PE ratio of 24.66, a P/E/G ratio of 2.22 and a beta of 1.21.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $5.29 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on LULU. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a research note on Monday, December 2nd. BMO Capital Markets lifted their price target on Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley cut their price objective on Lululemon Athletica from $420.00 to $411.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $445.00 target price on shares of Lululemon Athletica in a report on Thursday, March 20th. Finally, Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and an average price target of $395.55.

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.