Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 17.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,344 shares of the apparel retailer’s stock after selling 280 shares during the quarter. Hoey Investments Inc.’s holdings in Lululemon Athletica were worth $514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alliancebernstein L.P. raised its position in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after purchasing an additional 571,657 shares during the period. Geode Capital Management LLC raised its holdings in shares of Lululemon Athletica by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock valued at $669,036,000 after buying an additional 44,294 shares during the period. Schroder Investment Management Group raised its holdings in shares of Lululemon Athletica by 31.0% during the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after buying an additional 421,890 shares during the period. Mawer Investment Management Ltd. purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $523,520,000. Finally, Diamond Hill Capital Management Inc. acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $370,062,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

LULU stock opened at $293.06 on Monday. The stock’s fifty day moving average is $364.63 and its two-hundred day moving average is $340.22. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.22 and a beta of 1.21. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32.

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

Analyst Ratings Changes

A number of research analysts have recently commented on LULU shares. Bank of America reduced their target price on shares of Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday. Oppenheimer upped their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Evercore ISI lifted their target price on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. BMO Capital Markets reduced their price target on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating for the company in a report on Friday. Finally, Stifel Nicolaus dropped their price objective on Lululemon Athletica from $438.00 to $424.00 and set a “buy” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $380.72.

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.