West Coast Financial LLC Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

West Coast Financial LLC cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,102 shares of the apparel retailer's stock after selling 898 shares during the quarter. West Coast Financial LLC's holdings in Lululemon Athletica were worth $8,238,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $26,000. Anderson Financial Strategies LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $30,000. Kestra Investment Management LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $32,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $32,000. Finally, Asset Planning Inc bought a new position in Lululemon Athletica in the 4th quarter worth approximately $33,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $65.51 on Friday, hitting $265.27. 16,083,546 shares of the company's stock were exchanged, compared to its average volume of 2,177,376. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 19.15, 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 two-hundred day simple moving average is $337.88.

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 for the quarter, meeting the consensus estimate of $2.60. The firm 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 firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 earnings per share. Equities analysts forecast that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LULU has been the subject of several recent analyst reports. Cfra Research upgraded Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Needham & Company LLC dropped their price target on Lululemon Athletica from $366.00 to $317.00 and set a "buy" rating for the company in a research note on Friday. Oppenheimer upped their price target on Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp dropped their price target on Lululemon Athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Piper Sandler upped their price target on Lululemon Athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $344.96.

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.