Assenagon Asset Management S.A. Lowers Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Assenagon Asset Management S.A. lessened its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,429 shares of the apparel retailer’s stock after selling 42,945 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.14% of Lululemon Athletica worth $47,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $26,000. Anderson Financial Strategies LLC acquired a new stake in Lululemon Athletica in the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $32,000. Finally, Asset Planning Inc acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on LULU shares. BTIG Research cut their price target on shares of Lululemon Athletica from $420.00 to $405.00 and set a “buy” rating for the company in a report on Friday, June 6th. Raymond James reissued a “market perform” rating and set a $430.00 target price on shares of Lululemon Athletica in a research note on Friday, March 28th. Needham & Company LLC decreased their price target on shares of Lululemon Athletica from $366.00 to $317.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Finally, Argus cut Lululemon Athletica from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $340.26.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $252.28 on Thursday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $423.32. The company has a market capitalization of $30.43 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.22 and a beta of 1.26. The company has a 50 day simple moving average of $285.28 and a 200-day simple moving average of $336.70.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting analysts’ consensus estimates of $2.60. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

About Lululemon Athletica

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.