Victory Capital Management Inc. Sells 18,854 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Victory Capital Management Inc. trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,790 shares of the apparel retailer's stock after selling 18,854 shares during the period. Victory Capital Management Inc. owned about 0.12% of Lululemon Athletica worth $76,586,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its stake in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in Lululemon Athletica during the 3rd quarter valued at $27,000. Bogart Wealth LLC lifted its holdings in shares of Lululemon Athletica by 270.0% in the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer's stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter worth $31,000. Finally, Farmers & Merchants Investments Inc. purchased a new position in shares of Lululemon Athletica during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 85.20% of the company's stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of several research analyst reports. Evercore ISI lowered their target price on Lululemon Athletica from $575.00 to $515.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. Needham & Company LLC dropped their price objective on shares of Lululemon Athletica from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Citigroup decreased their target price on shares of Lululemon Athletica from $520.00 to $500.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. TD Cowen dropped their price target on shares of Lululemon Athletica from $553.00 to $515.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. Finally, HSBC cut their price objective on Lululemon Athletica from $500.00 to $405.00 in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of "Moderate Buy" and a consensus price target of $476.57.

Lululemon Athletica Stock Up 1.2 %

Shares of LULU stock traded up $4.35 during mid-day trading on Friday, reaching $355.15. The stock had a trading volume of 1,257,860 shares, compared to its average volume of 1,878,894. The firm has a market cap of $44.75 billion, a PE ratio of 29.09, a P/E/G ratio of 1.24 and a beta of 1.30. Lululemon Athletica Inc. has a one year low of $326.93 and a one year high of $516.39. The firm's 50 day simple moving average is $401.25 and its 200 day simple moving average is $437.35.

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

Insiders Place Their Bets

In related news, Director Martha A. M. Morfitt bought 700 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now directly owns 500 shares of the company's stock, valued at $194,645. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

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.