Janney Montgomery Scott LLC Trims Holdings in lululemon athletica inc. (NASDAQ:LULU)

Janney Montgomery Scott LLC cut its position in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,172 shares of the apparel retailer's stock after selling 7,319 shares during the period. Janney Montgomery Scott LLC's holdings in lululemon athletica were worth $15,900,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of lululemon athletica by 43.2% in the first quarter. Brighton Jones LLC now owns 1,605 shares of the apparel retailer's stock valued at $454,000 after purchasing an additional 484 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of lululemon athletica by 300.6% in the first quarter. Exchange Traded Concepts LLC now owns 3,858 shares of the apparel retailer's stock valued at $1,092,000 after purchasing an additional 2,895 shares during the period. Sound Income Strategies LLC increased its holdings in shares of lululemon athletica by 70.9% in the first quarter. Sound Income Strategies LLC now owns 147 shares of the apparel retailer's stock valued at $42,000 after purchasing an additional 61 shares during the period. Tcfg Wealth Management LLC increased its holdings in shares of lululemon athletica by 19.9% in the first quarter. Tcfg Wealth Management LLC now owns 759 shares of the apparel retailer's stock valued at $215,000 after purchasing an additional 126 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of lululemon athletica in the first quarter valued at about $59,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on LULU shares. KeyCorp lowered their target price 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. Robert W. Baird lowered their target price on lululemon athletica from $350.00 to $340.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company restated an "equal weight" rating on shares of lululemon athletica in a research note on Friday, June 6th. Raymond James Financial restated a "market perform" rating and issued a $430.00 target price on shares of lululemon athletica in a research note on Friday, March 28th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $280.00 target price (down previously from $346.00) on shares of lululemon athletica in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned 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 an average rating of "Moderate Buy" and an average target price of $340.26.

lululemon athletica Stock Down 0.5%

Shares of NASDAQ LULU traded down $1.18 during midday trading on Friday, hitting $227.47. The stock had a trading volume of 4,892,900 shares, compared to its average volume of 2,255,572. The company has a market capitalization of $27.26 billion, a PE ratio of 15.41, a P/E/G ratio of 2.10 and a beta of 1.26. The stock has a 50 day simple moving average of $282.39 and a 200-day simple moving average of $333.12. lululemon athletica inc. has a 1 year low of $226.01 and a 1 year high of $423.32.

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

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.