Zurcher Kantonalbank Zurich Cantonalbank Has $16.66 Million Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 48.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,785 shares of the apparel retailer’s stock after selling 52,317 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lululemon Athletica were worth $16,663,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LULU. Retirement Systems of Alabama bought a new position in Lululemon Athletica during the fourth quarter worth about $12,976,000. Choreo LLC increased its holdings in Lululemon Athletica by 24.5% in the 4th quarter. Choreo LLC now owns 803 shares of the apparel retailer’s stock valued at $411,000 after buying an additional 158 shares during the period. Van ECK Associates Corp increased its holdings in Lululemon Athletica by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 35,102 shares of the apparel retailer’s stock valued at $17,947,000 after buying an additional 2,473 shares during the period. Kestra Private Wealth Services LLC increased its holdings in Lululemon Athletica by 5.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,258 shares of the apparel retailer’s stock valued at $2,177,000 after buying an additional 225 shares during the period. Finally, Brighton Jones LLC increased its holdings in Lululemon Athletica by 13.5% in the 4th quarter. Brighton Jones LLC now owns 731 shares of the apparel retailer’s stock valued at $374,000 after buying an additional 87 shares during the period. 85.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

LULU has been the topic of several recent analyst reports. Telsey Advisory Group decreased their target price on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. TD Cowen cut their target price on shares of Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Finally, Stifel Nicolaus cut their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $372.52.

Lululemon Athletica Stock Down 0.8 %

LULU stock traded down $2.01 during midday trading on Friday, reaching $257.00. 5,317,894 shares of the company’s stock traded hands, compared to its average volume of 2,122,692. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.25 and a beta of 1.26. The firm’s fifty day moving average price is $273.65 and its 200-day moving average price is $341.85. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.92 by $0.23. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.09% and a return on equity of 42.64%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 earnings per share. Analysts forecast that Lululemon Athletica Inc. will post 14.22 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.