Sawgrass Asset Management LLC Takes $9.21 Million Position in lululemon athletica inc. (NASDAQ:LULU)

Sawgrass Asset Management LLC purchased a new stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 32,532 shares of the apparel retailer's stock, valued at approximately $9,209,000.

A number of other large investors have also recently added to or reduced their stakes in LULU. Price T Rowe Associates Inc. MD raised its holdings in shares of lululemon athletica by 95.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,848,613 shares of the apparel retailer's stock valued at $1,854,160,000 after purchasing an additional 2,371,079 shares during the period. Alliancebernstein L.P. increased its position in lululemon athletica by 14.9% during the fourth 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 last quarter. Geode Capital Management LLC raised its stake in lululemon athletica by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,485,289 shares of the apparel retailer's stock valued at $947,682,000 after buying an additional 10,461 shares during the period. Capital World Investors lifted its position in shares of lululemon athletica by 34.6% in the fourth quarter. Capital World Investors now owns 2,163,484 shares of the apparel retailer's stock valued at $827,338,000 after buying an additional 556,406 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of lululemon athletica by 31.0% during the 4th quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer's stock worth $681,163,000 after acquiring an additional 421,890 shares during the period. Institutional investors and hedge funds own 85.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LULU shares. Cfra Research upgraded lululemon athletica from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Stifel Nicolaus lowered their price objective on lululemon athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Bank of America reduced their target price on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating for the company in a research report on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of lululemon athletica in a research report on Thursday, April 3rd. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $385.00 price objective on shares of lululemon athletica in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $340.26.

lululemon athletica Trading Up 0.0%

NASDAQ:LULU traded up $0.06 on Thursday, hitting $231.58. The company had a trading volume of 3,077,341 shares, compared to its average volume of 2,278,100. lululemon athletica inc. has a 52 week low of $219.97 and a 52 week high of $423.32. The stock has a market capitalization of $27.75 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 2.13 and a beta of 1.26. The firm has a 50 day moving average of $279.84 and a two-hundred day moving average of $328.40.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that lululemon athletica inc. will post 14.36 EPS for the current year.

About lululemon athletica

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.