Morse Asset Management Inc purchased a new position in shares of Lululemon Athletica inc. (NASDAQ:LULU) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,240 shares of the apparel retailer’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LULU. FMR LLC raised its stake in Lululemon Athletica by 0.5% during the 1st quarter. FMR LLC now owns 18,492,021 shares of the apparel retailer’s stock valued at $3,030,287,000 after acquiring an additional 97,885 shares during the last quarter. Jennison Associates LLC raised its stake in Lululemon Athletica by 144.2% during the 1st quarter. Jennison Associates LLC now owns 6,321,172 shares of the apparel retailer’s stock valued at $1,035,850,000 after acquiring an additional 3,732,291 shares during the last quarter. BlackRock Inc. raised its stake in Lululemon Athletica by 6.3% during the 1st quarter. BlackRock Inc. now owns 5,896,520 shares of the apparel retailer’s stock valued at $966,262,000 after acquiring an additional 350,808 shares during the last quarter. Geode Capital Management LLC raised its stake in Lululemon Athletica by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 1,296,806 shares of the apparel retailer’s stock valued at $157,624,000 after acquiring an additional 53,511 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Lululemon Athletica by 15.0% during the 1st quarter. Wells Fargo & Company MN now owns 812,430 shares of the apparel retailer’s stock valued at $133,134,000 after acquiring an additional 105,900 shares during the last quarter. 82.69% of the stock is owned by institutional investors.

Shares of Lululemon Athletica stock traded down $5.33 during trading hours on Wednesday, reaching $174.26. 59,687 shares of the company’s stock were exchanged, compared to its average volume of 2,107,053. Lululemon Athletica inc. has a 52-week low of $110.71 and a 52-week high of $194.25. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 2.12 and a beta of 0.62. The company’s fifty day moving average is $184.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.33 and a quick ratio of 1.45.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Wednesday, June 12th. The apparel retailer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Lululemon Athletica had a return on equity of 38.77% and a net margin of 14.77%. The company had revenue of $782.30 million for the quarter, compared to analyst estimates of $755.92 million. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that Lululemon Athletica inc. will post 4.7 EPS for the current year.

Several research firms have commented on LULU. Oppenheimer upped their price objective on Lululemon Athletica from $190.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Cowen set a $200.00 price objective on Lululemon Athletica and gave the company a “buy” rating in a research note on Thursday, June 13th. Argus boosted their target price on Lululemon Athletica to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Needham & Company LLC reiterated a “hold” rating on shares of Lululemon Athletica in a research report on Thursday, June 13th. Finally, Jefferies Financial Group cut Lululemon Athletica to a “hold” rating and boosted their target price for the stock from $156.00 to $175.00 in a research report on Thursday, June 13th. Eleven research analysts have rated the stock with a hold rating, twenty-one 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 an average target price of $190.34.

In related news, Director David M. Mussafer sold 4,484 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $186.10, for a total value of $834,472.40. Following the transaction, the director now directly owns 18,947 shares of the company’s stock, valued at approximately $3,526,036.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

About Lululemon Athletica

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women, men, and female youth. It operates through two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits; and athletic wear for female youth.

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Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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