Fifth Third Bancorp Sells 2,257 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Fifth Third Bancorp decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,248 shares of the apparel retailer's stock after selling 2,257 shares during the quarter. Fifth Third Bancorp's holdings in Lululemon Athletica were worth $5,448,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Simon Quick Advisors LLC raised its holdings in shares of Lululemon Athletica by 102.7% in the 1st quarter. Simon Quick Advisors LLC now owns 1,995 shares of the apparel retailer's stock worth $565,000 after buying an additional 1,011 shares in the last quarter. Investment Partners Asset Management Inc. boosted its position in shares of Lululemon Athletica by 20.3% in the 1st quarter. Investment Partners Asset Management Inc. now owns 866 shares of the apparel retailer's stock worth $245,000 after purchasing an additional 146 shares during the last quarter. Focus Financial Network Inc. boosted its position in shares of Lululemon Athletica by 12.7% in the 1st quarter. Focus Financial Network Inc. now owns 711 shares of the apparel retailer's stock worth $201,000 after purchasing an additional 80 shares during the last quarter. CX Institutional acquired a new stake in Lululemon Athletica during the 1st quarter worth $181,000. Finally, Integrated Advisors Network LLC acquired a new stake in Lululemon Athletica during the 1st quarter worth $277,000. Institutional investors own 85.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley reaffirmed an "equal weight" rating and set a $280.00 price objective (down previously from $346.00) on shares of Lululemon Athletica in a research note on Monday, June 9th. KeyCorp dropped their price target on Lululemon Athletica from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, June 6th. UBS Group dropped their price target on Lululemon Athletica from $330.00 to $290.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. BMO Capital Markets dropped their price target on Lululemon Athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a research note on Friday, June 6th. Finally, TD Securities lifted their price target on Lululemon Athletica from $370.00 to $373.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.26.

Lululemon Athletica Price Performance

NASDAQ LULU traded down $7.92 during trading on Friday, reaching $239.11. 4,511,966 shares of the company's stock were exchanged, compared to its average volume of 2,219,618. The business has a 50 day moving average price of $284.75 and a 200-day moving average price of $335.71. The stock has a market capitalization of $28.66 billion, a P/E ratio of 17.26, a PEG ratio of 2.22 and a beta of 1.26. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting analysts' consensus estimates of $2.60. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.54 earnings per share. On average, analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share 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.