Bell Asset Management Ltd Has $5.57 Million Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Bell Asset Management Ltd trimmed its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,568 shares of the apparel retailer’s stock after selling 2,873 shares during the period. Bell Asset Management Ltd’s holdings in Lululemon Athletica were worth $5,571,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Mawer Investment Management Ltd. acquired a new stake in Lululemon Athletica in the fourth quarter worth about $523,520,000. Diamond Hill Capital Management Inc. bought a new position in shares of Lululemon Athletica in the 4th quarter valued at about $370,062,000. Alliancebernstein L.P. grew its position in shares of Lululemon Athletica by 14.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer’s stock worth $1,681,682,000 after buying an additional 571,657 shares during the period. Schroder Investment Management Group raised 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 worth $681,163,000 after buying an additional 421,890 shares during the last quarter. Finally, Norges Bank acquired a new position in Lululemon Athletica in the fourth quarter valued at approximately $142,235,000. 85.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LULU shares. Needham & Company LLC reduced their price target on Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Evercore ISI lifted their price target on shares of Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. BMO Capital Markets dropped their price objective on Lululemon Athletica from $313.00 to $302.00 and set a “market perform” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, William Blair restated an “outperform” rating on shares of Lululemon Athletica in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.31.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $263.70 on Monday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $423.32. The firm’s 50-day simple moving average is $353.59 and its 200 day simple moving average is $340.46. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.22 and a beta of 1.31.

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

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.