Lululemon Athletica Inc. (NASDAQ:LULU) Sees Significant Decrease in Short Interest


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Lululemon Athletica Inc. (NASDAQ:LULU) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 2,230,000 shares, a decrease of 28.3% from the March 15th total of 3,110,000 shares. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.9% of the company’s stock are sold short.

A number of institutional investors and hedge funds have recently modified their holdings of LULU. Norges Bank acquired a new position in Lululemon Athletica during the fourth quarter worth about $365,033,000. Price T Rowe Associates Inc. MD grew its position in shares of Lululemon Athletica by 4.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,981,172 shares of the apparel retailer’s stock valued at $2,777,687,000 after purchasing an additional 329,451 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Lululemon Athletica by 3.5% in the fourth quarter. WCM Investment Management LLC now owns 5,230,699 shares of the apparel retailer’s stock valued at $1,820,440,000 after purchasing an additional 175,943 shares during the last quarter. Morgan Stanley grew its position in shares of Lululemon Athletica by 7.7% in the fourth quarter. Morgan Stanley now owns 1,925,210 shares of the apparel retailer’s stock valued at $670,030,000 after purchasing an additional 138,438 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Lululemon Athletica by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 526,525 shares of the apparel retailer’s stock valued at $183,246,000 after purchasing an additional 95,708 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Lululemon Athletica from $435.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, March 31st. B. Riley lowered their target price on shares of Lululemon Athletica from $409.00 to $374.00 and set a “buy” rating on the stock in a research report on Wednesday, March 31st. TheStreet downgraded shares of Lululemon Athletica from a “b” rating to a “c+” rating in a research report on Thursday, March 18th. Morgan Stanley raised their price objective on shares of Lululemon Athletica from $386.00 to $394.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Finally, MKM Partners reduced their target price on shares of Lululemon Athletica from $446.00 to $388.00 in a report on Wednesday, March 31st. Eleven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $383.94.

LULU traded down $1.73 on Friday, hitting $324.10. 923,223 shares of the company were exchanged, compared to its average volume of 1,480,885. The business’s fifty day moving average is $308.77 and its 200 day moving average is $336.01. Lululemon Athletica has a fifty-two week low of $206.50 and a fifty-two week high of $399.90. The firm has a market capitalization of $42.25 billion, a P/E ratio of 76.08, a price-to-earnings-growth ratio of 4.20 and a beta of 1.22.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Monday, March 29th. The apparel retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.09. Lululemon Athletica had a net margin of 13.69% and a return on equity of 28.89%. During the same quarter last year, the company earned $2.28 EPS. On average, sell-side analysts predict that Lululemon Athletica will post 4.57 earnings per share for the current fiscal year.

About Lululemon Athletica

lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It company operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises of lululemon and ivivva brands; and specialize in athletic wear for female youth.

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