Pinebridge Investments L.P. Reduces Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinebridge Investments L.P. decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 73.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,093 shares of the apparel retailer’s stock after selling 55,059 shares during the quarter. Pinebridge Investments L.P.’s holdings in Lululemon Athletica were worth $7,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCTC Holdings LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $32,000. Asset Planning Inc acquired a new position in Lululemon Athletica in the fourth quarter valued at $33,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $270.64 on Friday. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $423.32. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The stock’s fifty day moving average is $307.99 and its two-hundred day moving average is $338.07.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the company earned $5.29 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird reduced their target price on Lululemon Athletica from $450.00 to $370.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Bank of America reduced their price objective on Lululemon Athletica from $480.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barclays lowered their target price on shares of Lululemon Athletica from $411.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Oppenheimer upped their price target on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average price target of $372.28.

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 offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.