Short Interest in Lululemon Athletica Inc. (NASDAQ:LULU) Declines By 16.6%

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,170,000 shares, a decrease of 16.6% from the March 31st total of 7,400,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On Lululemon Athletica

Several hedge funds have recently made changes to their positions in LULU. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter valued at $26,000. Cornerstone Planning Group LLC raised its holdings in shares of Lululemon Athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after purchasing an additional 81 shares during the period. Anderson Financial Strategies LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth about $30,000. Kestra Investment Management LLC purchased a new position in Lululemon Athletica in the 4th quarter worth approximately $32,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

Lululemon Athletica Stock Performance

LULU stock opened at $268.60 on Friday. The firm has a market cap of $32.40 billion, a PE ratio of 19.39, a P/E/G ratio of 2.22 and a beta of 1.31. The firm's fifty day moving average is $298.27 and its 200 day moving average is $337.78. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.29. The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.29 EPS. Research analysts predict that Lululemon Athletica will post 14.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Cfra Research upgraded shares of Lululemon Athletica from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Needham & Company LLC decreased their price objective on shares of Lululemon Athletica from $475.00 to $430.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Truist Financial cut their target price on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Raymond James reaffirmed a "market perform" rating and set a $430.00 price objective on shares of Lululemon Athletica in a research report on Friday, March 28th. Finally, Oppenheimer upped their price objective on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $369.86.

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.

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