Marest Capital LLC Sells 1,337 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Marest Capital LLC reduced its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 44.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,690 shares of the apparel retailer’s stock after selling 1,337 shares during the quarter. Lululemon Athletica accounts for 0.6% of Marest Capital LLC’s portfolio, making the stock its 10th largest position. Marest Capital LLC’s holdings in Lululemon Athletica were worth $660,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Lululemon Athletica by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after purchasing an additional 2,369,119 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Lululemon Athletica by 51,219.6% during the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock valued at $351,868,000 after purchasing an additional 686,855 shares in the last quarter. Norges Bank bought a new position in Lululemon Athletica during the 4th quarter valued at $236,378,000. Morgan Stanley boosted its stake in shares of Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after acquiring an additional 437,069 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after acquiring an additional 310,347 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. KeyCorp reduced their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Morgan Stanley lowered their price target on Lululemon Athletica from $490.00 to $404.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $445.00 price objective on shares of Lululemon Athletica in a research note on Thursday, June 6th. Citigroup dropped their price objective on Lululemon Athletica from $500.00 to $415.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Robert W. Baird lowered their price target on Lululemon Athletica from $505.00 to $470.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $431.94.

Lululemon Athletica Price Performance

Shares of LULU stock traded down $1.35 during trading hours on Wednesday, reaching $300.32. The company had a trading volume of 951,293 shares, compared to its average volume of 2,059,542. The company has a 50 day moving average of $324.62 and a 200 day moving average of $404.18. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.49 and a beta of 1.26. Lululemon Athletica Inc. has a 1-year low of $293.03 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business posted $2.28 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current fiscal year.

Lululemon Athletica announced that its board has approved a share buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Lululemon Athletica 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.