Sellaronda Global Management LP Buys New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Sellaronda Global Management LP purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,000 shares of the apparel retailer’s stock, valued at approximately $10,325,000. Lululemon Athletica makes up approximately 10.4% of Sellaronda Global Management LP’s holdings, making the stock its 5th largest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Mawer Investment Management Ltd. bought a new position in Lululemon Athletica in the fourth quarter valued at $523,520,000. Diamond Hill Capital Management Inc. purchased a new stake in Lululemon Athletica in the fourth quarter worth approximately $370,062,000. Alliancebernstein L.P. boosted its stake in shares of Lululemon Athletica by 14.9% in the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock valued at $1,681,682,000 after purchasing an additional 571,657 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Lululemon Athletica by 31.0% during the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer’s stock valued at $681,163,000 after buying an additional 421,890 shares during the last quarter. Finally, Norges Bank purchased a new stake in Lululemon Athletica during the 4th quarter valued at about $142,235,000. Institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LULU shares. Robert W. Baird lowered their price objective on Lululemon Athletica from $450.00 to $370.00 and set an “outperform” rating for the company in a research report on Friday. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their price target for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. KeyCorp reduced their price target on Lululemon Athletica from $420.00 to $400.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Thursday, April 3rd. Finally, UBS Group reduced their price objective on shares of Lululemon Athletica from $376.00 to $335.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average price target of $378.31.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $265.00 on Tuesday. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The business has a 50-day simple moving average of $350.83 and a two-hundred day simple moving average of $340.42. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

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