Shell Asset Management Co. Reduces Stake in Lululemon Athletica Inc. (LULU)
Shell Asset Management Co. lowered its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,043 shares of the apparel retailer’s stock after selling 398 shares during the period. Shell Asset Management Co.’s holdings in Lululemon Athletica were worth $446,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Pacific Global Investment Management CO purchased a new stake in Lululemon Athletica during the first quarter valued at about $209,000. BB&T Securities LLC purchased a new stake in Lululemon Athletica during the first quarter valued at about $223,000. Scotia Capital Inc. purchased a new stake in Lululemon Athletica during the first quarter valued at about $264,000. BNP Paribas Arbitrage SA raised its stake in Lululemon Athletica by 14.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,917 shares of the apparel retailer’s stock valued at $289,000 after buying an additional 491 shares in the last quarter. Finally, Alpine Partners VI LLC purchased a new stake in Lululemon Athletica during the first quarter valued at about $309,000. Institutional investors and hedge funds own 94.76% of the company’s stock.
Shares of Lululemon Athletica Inc. (NASDAQ:LULU) traded down 0.82% during midday trading on Monday, hitting $57.81. 1,261,286 shares of the stock were exchanged. The firm’s 50-day moving average is $68.32 and its 200 day moving average is $69.32. The firm has a market cap of $7.92 billion, a PE ratio of 29.66 and a beta of 0.61. Lululemon Athletica Inc. has a 52-week low of $43.14 and a 52-week high of $81.81.
Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, September 1st. The apparel retailer reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Lululemon Athletica had a net margin of 12.28% and a return on equity of 23.73%. The firm had revenue of $514.52 million for the quarter. During the same quarter last year, the company earned $0.34 EPS. Lululemon Athletica’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts forecast that Lululemon Athletica Inc. will post $2.12 earnings per share for the current year.
LULU has been the subject of several research reports. Piper Jaffray Cos. raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating in a research note on Friday, September 9th. FBR & Co reissued an “underperform” rating and issued a $40.00 price objective on shares of Lululemon Athletica in a research note on Friday, September 2nd. Vetr raised shares of Lululemon Athletica from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $83.00 price objective on shares of Lululemon Athletica in a research note on Tuesday, June 21st. Finally, Barclays PLC reissued an “overweight” rating and issued a $85.00 price objective on shares of Lululemon Athletica in a research note on Sunday, September 4th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.86.
Lululemon Athletica Company Profile
Lululemon Athletica Inc is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth.
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