BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 143,177 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 48.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,382 shares of the apparel retailer’s stock after selling 143,177 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.12% of Lululemon Athletica worth $45,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidemark LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Lululemon Athletica in the fourth quarter worth $26,000. Benjamin Edwards Inc. boosted its stake in Lululemon Athletica by 176.0% during the first quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock worth $27,000 after buying an additional 44 shares during the period. Riverview Trust Co bought a new position in Lululemon Athletica during the first quarter valued at $29,000. Finally, True Wealth Design LLC raised its stake in shares of Lululemon Athletica by 2,950.0% in the fourth quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 59 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LULU. The Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Guggenheim cut their target price on Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird decreased their price target on Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Finally, Bank of America reduced their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Lululemon Athletica Price Performance

LULU opened at $259.47 on Friday. The firm has a market capitalization of $32.43 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The business’s 50-day moving average is $272.61 and its two-hundred day moving average is $341.27. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.23. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.22 EPS for the current year.

Lululemon Athletica declared that its board has initiated a stock buyback plan on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Lululemon Athletica Company 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.