Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Ocean Capital Management LLC

Ocean Capital Management LLC trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,999 shares of the apparel retailer’s stock after selling 207 shares during the period. Lululemon Athletica comprises approximately 2.1% of Ocean Capital Management LLC’s holdings, making the stock its 10th largest holding. Ocean Capital Management LLC’s holdings in Lululemon Athletica were worth $5,112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MetLife Investment Management LLC acquired a new position in Lululemon Athletica in the first quarter worth about $2,696,000. Panagora Asset Management Inc. increased its holdings in shares of Lululemon Athletica by 48.4% in the 1st quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock valued at $602,000 after acquiring an additional 537 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Lululemon Athletica by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock valued at $1,469,000 after acquiring an additional 100 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Lululemon Athletica by 6.5% during the 1st quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock valued at $457,000 after acquiring an additional 76 shares in the last quarter. Finally, Prudential PLC acquired a new position in Lululemon Athletica in the first quarter worth $774,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

Shares of LULU opened at $390.65 on Friday. The stock has a market capitalization of $49.30 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.37 and a beta of 1.33. Lululemon Athletica Inc. has a 12-month low of $326.93 and a 12-month high of $516.39. The firm’s 50 day moving average is $458.01 and its 200-day moving average is $441.95.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.40 EPS. As a group, equities research analysts forecast that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Lululemon Athletica declared that its board has authorized a stock buyback plan on Thursday, December 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the apparel retailer to reacquire up to 1.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on LULU. Needham & Company LLC dropped their target price on shares of Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. BMO Capital Markets raised their target price on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Wedbush dropped their price target on Lululemon Athletica from $548.00 to $492.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Citigroup cut their price target on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $550.00 price objective on shares of Lululemon Athletica in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $493.66.

Insider Buying and Selling

In other news, Director Martha A. M. Morfitt acquired 700 shares of Lululemon Athletica stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $389.29 per share, with a total value of $272,503.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.