Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 69.7% during the second quarter, Holdings Channel reports. The fund owned 50,436 shares of the apparel retailer’s stock after selling 116,168 shares during the quarter. SG Americas Securities LLC’s holdings in Lululemon Athletica were worth $15,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Valley National Advisers Inc. boosted its holdings in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Tidemark LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in Lululemon Athletica during the fourth quarter valued at $26,000. Benjamin Edwards Inc. boosted its holdings in Lululemon Athletica by 176.0% in the first 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 purchased a new stake in Lululemon Athletica in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 85.20% of the company’s shares.

The Wall Street analyst weighs in

A number of research firms recently weighed in on LULU. Wells Fargo & Company cut 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. Stifel Nicolaus upped their price target on shares of Lululemon Athletica from $410.00 to $416.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $357.00 target price on shares of Lululemon Athletica in a research report on Thursday, June 13th. TD Securities cut their price target on shares of Lululemon Athletica from $515.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Telsey Advisory Group cut their price target on shares of Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating on the stock in a research report on Thursday, 6 June. 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. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $404.26, according to MarketBeat.com.

Check out our latest Lululemon Athletica review

Lululemon Athletica trading down 1.3%

LULU traded down $3.03 during trading hours on Friday, reaching $238.72. 1,289,980 shares of the company’s stock traded hands, compared to its average volume of 2,098,160. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a 50-day moving average of $287.76 and a 200-day moving average of $360.92. The firm has a market cap of $29.84 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26.

Lululemon Athletica (NASDAQ:LULU – Get Your Free Report ) last announced its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.16. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $2.28 EPS. The company’s revenue for the quarter was up 10.4% year over year. As a group, research analysts expect that Lululemon Athletica Inc. to post 14.22 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to acquire up to 2.5% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Lululemon Athletica Company Profile

(Free report)

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes and markets athletic apparel, footwear and accessories under the lululemon brand for women and men. It offers pants, shorts, tops and jackets for a healthy lifestyle such as yoga, running, training and other activities. They also offer fitness-inspired accessories.

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