Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 5.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,549 shares of the apparel retailer’s stock after selling 19,396 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Lululemon Athletica worth $120,535,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Lululemon Athletica during the 4th quarter valued at about $1,114,000. Rockline Wealth Management LLC bought a new stake in Lululemon Athletica during the fourth quarter valued at approximately $1,503,000. Brookstone Capital Management grew its stake in Lululemon Athletica by 202.8% in the 1st quarter. Brookstone Capital Management now owns 1,714 shares of the apparel retailer’s stock worth $670,000 after buying an additional 1,148 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Lululemon Athletica by 6.0% in the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after buying an additional 319 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Lululemon Athletica by 10.9% during the 4th quarter. HB Wealth Management LLC now owns 1,703 shares of the apparel retailer’s stock valued at $871,000 after buying an additional 168 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of a number of research reports. Barclays lowered their price target on Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. TD Cowen boosted their target price on Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Oppenheimer reiterated an “outperform” rating and set a $445.00 price target on shares of Lululemon Athletica in a research report on Thursday, June 6th. Evercore ISI lowered their price objective on shares of Lululemon Athletica from $515.00 to $400.00 in a report on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $357.00 target price on shares of Lululemon Athletica in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $431.94.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $300.32 on Thursday. The stock has a market cap of $37.54 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26. Lululemon Athletica Inc. has a 1 year low of $293.03 and a 1 year high of $516.39. The firm has a 50-day moving average of $324.62 and a 200 day moving average of $404.18.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 EPS. Research analysts expect that Lululemon Athletica Inc. will post 14.29 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.