Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,114 shares of the apparel retailer's stock after selling 8,958 shares during the period. Gateway Investment Advisers LLC's holdings in Lululemon Athletica were worth $10,222,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC increased its stake in shares of Lululemon Athletica by 6.9% in the fourth quarter. Beacon Capital Management LLC now owns 372 shares of the apparel retailer's stock worth $142,000 after acquiring an additional 24 shares during the period. Edgestream Partners L.P. boosted its holdings in Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer's stock valued at $1,353,000 after purchasing an additional 25 shares during the last quarter. Dnca Finance grew its position in Lululemon Athletica by 15.1% during the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock worth $76,000 after purchasing an additional 26 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Lululemon Athletica by 9.4% during the 4th quarter. Capital Advisors Ltd. LLC now owns 325 shares of the apparel retailer's stock valued at $124,000 after buying an additional 28 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its holdings in shares of Lululemon Athletica by 3.3% in the 4th quarter. LGT Fund Management Co Ltd. now owns 930 shares of the apparel retailer's stock valued at $356,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LULU shares. UBS Group reduced their price target on Lululemon Athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a research report on Friday. Raymond James reaffirmed a "market perform" rating and set a $430.00 target price on shares of Lululemon Athletica in a report on Friday, March 28th. Barclays lowered their price target on shares of Lululemon Athletica from $276.00 to $270.00 and set an "equal weight" rating on the stock in a report on Monday. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $385.00 price objective on shares of Lululemon Athletica in a report on Monday, June 2nd. Finally, Truist Financial lowered their target price on shares of Lululemon Athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $340.26.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $6.23 during midday trading on Monday, hitting $259.04. The company had a trading volume of 5,377,692 shares, compared to its average volume of 2,182,816. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The business's 50-day simple moving average is $285.93 and its 200-day simple moving average is $338.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.60. The business had revenue of $2.37 billion during 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 company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.54 EPS. As a group, sell-side analysts forecast 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.