WCM Investment Management LLC Invests $3.24 Million in Lululemon Athletica Inc. (NASDAQ:LULU)

WCM Investment Management LLC purchased a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,366 shares of the apparel retailer's stock, valued at approximately $3,242,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Lululemon Athletica by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer's stock worth $2,824,150,000 after buying an additional 38,432 shares during the last quarter. State Street Corp grew its stake in Lululemon Athletica by 0.7% during the 1st quarter. State Street Corp now owns 2,633,648 shares of the apparel retailer's stock worth $959,144,000 after buying an additional 18,147 shares during the last quarter. Morgan Stanley grew its stake in Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer's stock worth $746,034,000 after buying an additional 437,069 shares during the last quarter. Schroder Investment Management Group grew its stake in Lululemon Athletica by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer's stock worth $719,198,000 after buying an additional 310,347 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Lululemon Athletica by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 1,659,260 shares of the apparel retailer's stock worth $603,418,000 after buying an additional 51,572 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Raymond James boosted their target price on Lululemon Athletica from $495.00 to $520.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 10th. Stifel Nicolaus reiterated a "buy" rating and set a $539.00 price target (down previously from $596.00) on shares of Lululemon Athletica in a research note on Friday, March 22nd. Wedbush dropped their price target on Lululemon Athletica from $548.00 to $492.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. Oppenheimer reiterated an "outperform" rating and set a $445.00 price target (down previously from $540.00) on shares of Lululemon Athletica in a research note on Friday, April 5th. Finally, Needham & Company LLC dropped their price target on Lululemon Athletica from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of "Moderate Buy" and a consensus price target of $485.39.

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt bought 700 shares of the business's stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the purchase, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU traded down $1.37 during midday trading on Monday, hitting $334.76. The company had a trading volume of 2,325,452 shares, compared to its average volume of 1,756,394. Lululemon Athletica Inc. has a twelve month low of $326.93 and a twelve month high of $516.39. The stock has a market cap of $42.18 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The business's 50-day simple moving average is $429.56 and its 200-day simple moving average is $440.25.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm had revenue of $3.21 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter last year, the firm earned $4.40 earnings per share. The business's revenue for the quarter was up 15.6% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

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.