Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by DNB Asset Management AS

DNB Asset Management AS decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 50.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,190 shares of the apparel retailer’s stock after selling 19,524 shares during the quarter. DNB Asset Management AS’s holdings in Lululemon Athletica were worth $5,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LULU. Valley National Advisers Inc. boosted its stake in Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Tidemark LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $26,000. Benjamin Edwards Inc. boosted its stake in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after purchasing an additional 44 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Lululemon Athletica during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Citigroup lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $415.00 to $300.00 in a report on Thursday, July 25th. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Robert W. Baird cut their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Truist Financial cut their price target on shares of Lululemon Athletica from $415.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $406.68.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $239.35 on Wednesday. The stock has a fifty day moving average price of $291.75 and a two-hundred day moving average price of $365.19. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.25 and a beta of 1.26. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. Lululemon Athletica’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. On average, analysts predict that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its board has initiated a stock buyback program on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.