Alyeska Investment Group L.P. Sells 812,543 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Alyeska Investment Group L.P. trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 94.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,192 shares of the apparel retailer’s stock after selling 812,543 shares during the period. Alyeska Investment Group L.P.’s holdings in Lululemon Athletica were worth $19,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica in the fourth quarter valued at about $26,000. Anderson Financial Strategies LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $30,000. Kestra Investment Management LLC bought a new position in Lululemon Athletica during the fourth quarter worth about $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $32,000. Finally, Asset Planning Inc acquired a new stake in Lululemon Athletica during the fourth quarter worth approximately $33,000. 85.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on LULU. Truist Financial dropped their price objective on Lululemon Athletica from $380.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Raymond James reaffirmed a “market perform” rating and issued a $430.00 price target on shares of Lululemon Athletica in a research note on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Lululemon Athletica from $391.00 to $389.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of Lululemon Athletica from $363.00 to $302.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reduced their price target on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.86.

Lululemon Athletica Price Performance

LULU opened at $277.36 on Monday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The company’s 50 day moving average price is $296.48 and its two-hundred day moving average price is $338.39. The firm has a market capitalization of $33.46 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.22 and a beta of 1.30.

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

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.