Lululemon Athletica Inc. (NASDAQ:LULU) Stock Position Lowered by Soviero Asset Management LP

Soviero Asset Management LP decreased its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the apparel retailer's stock after selling 2,500 shares during the period. Lululemon Athletica makes up about 3.5% of Soviero Asset Management LP's portfolio, making the stock its 8th biggest holding. Soviero Asset Management LP's holdings in Lululemon Athletica were worth $5,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LULU. TCTC Holdings LLC purchased a new position in Lululemon Athletica in the 4th quarter worth $26,000. Anderson Financial Strategies LLC purchased a new position in Lululemon Athletica in the 4th quarter worth $30,000. Kestra Investment Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter valued at about $32,000. Finally, Sound Income Strategies LLC raised its stake in shares of Lululemon Athletica by 309.5% during the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock valued at $33,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company's stock.

Lululemon Athletica Price Performance

LULU stock traded down $9.61 during trading on Wednesday, hitting $317.56. The stock had a trading volume of 1,322,378 shares, compared to its average volume of 2,208,021. The company's 50-day moving average price is $286.64 and its two-hundred day moving average price is $337.91. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The stock has a market capitalization of $38.31 billion, a P/E ratio of 22.93, a PEG ratio of 2.22 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company posted $5.29 EPS. The business's revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on LULU. Oppenheimer lifted their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Truist Financial reduced their price objective on Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets reduced their price objective on Lululemon Athletica from $313.00 to $302.00 and set a "market perform" rating for the company in a research note on Friday, March 28th. Barclays reduced their price objective on Lululemon Athletica from $309.00 to $276.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Wells Fargo & Company reduced their price objective on Lululemon Athletica from $315.00 to $300.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $368.72.

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.