SG Americas Securities LLC Reduces Holdings in Lululemon Athletica inc. (LULU)

SG Americas Securities LLC reduced its position in Lululemon Athletica inc. (NASDAQ:LULU) by 97.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,336 shares of the apparel retailer’s stock after selling 176,787 shares during the quarter. SG Americas Securities LLC’s holdings in Lululemon Athletica were worth $541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hartford Investment Management Co. acquired a new position in Lululemon Athletica in the 2nd quarter valued at about $404,000. Cornerstone Wealth Management LLC acquired a new position in Lululemon Athletica in the 2nd quarter valued at about $198,000. Massachusetts Financial Services Co. MA grew its position in Lululemon Athletica by 26.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 768,720 shares of the apparel retailer’s stock valued at $95,975,000 after acquiring an additional 160,971 shares in the last quarter. Smithfield Trust Co. grew its position in Lululemon Athletica by 247.8% in the 2nd quarter. Smithfield Trust Co. now owns 1,287 shares of the apparel retailer’s stock valued at $160,000 after acquiring an additional 917 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. acquired a new position in Lululemon Athletica in the 2nd quarter valued at about $1,561,000. 77.60% of the stock is owned by institutional investors.

Several research firms have weighed in on LULU. Argus lifted their target price on Lululemon Athletica to $180.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. UBS Group lifted their target price on Lululemon Athletica from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, September 5th. Oppenheimer boosted their price objective on Lululemon Athletica to $180.00 and gave the stock an “outperform” rating in a research report on Friday, August 31st. JPMorgan Chase & Co. boosted their price objective on Lululemon Athletica to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 31st. Finally, Morgan Stanley boosted their price objective on Lululemon Athletica from $108.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 4th. Fifteen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $143.19.

LULU stock opened at $153.71 on Friday. The company has a market cap of $20.25 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 2.29 and a beta of 0.11. Lululemon Athletica inc. has a fifty-two week low of $57.19 and a fifty-two week high of $160.00.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 30th. The apparel retailer reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.22. The firm had revenue of $723.50 million during the quarter, compared to analysts’ expectations of $669.14 million. Lululemon Athletica had a return on equity of 28.67% and a net margin of 11.97%. During the same quarter in the previous year, the business earned $0.39 earnings per share. analysts forecast that Lululemon Athletica inc. will post 3.56 EPS for the current year.

About Lululemon Athletica

lululemon athletica inc., an athletic apparel company, together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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