Patten & Patten Inc. TN trimmed its stake in shares of Lululemon Athletica inc. (NASDAQ:LULU) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,165 shares of the apparel retailer’s stock after selling 275 shares during the period. Patten & Patten Inc. TN’s holdings in Lululemon Athletica were worth $3,632,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LULU. JPMorgan Chase & Co. lifted its position in shares of Lululemon Athletica by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,873,494 shares of the apparel retailer’s stock worth $466,913,000 after purchasing an additional 328,478 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Lululemon Athletica by 21.6% during the third quarter. Advisors Asset Management Inc. now owns 12,594 shares of the apparel retailer’s stock worth $2,046,000 after purchasing an additional 2,237 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Lululemon Athletica by 443.2% during the third quarter. Macquarie Group Ltd. now owns 234,654 shares of the apparel retailer’s stock worth $38,129,000 after purchasing an additional 191,457 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Lululemon Athletica by 16.0% during the third quarter. Teachers Advisors LLC now owns 436,485 shares of the apparel retailer’s stock worth $70,924,000 after purchasing an additional 60,052 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Lululemon Athletica by 15.3% during the third quarter. TIAA CREF Investment Management LLC now owns 837,395 shares of the apparel retailer’s stock worth $136,068,000 after purchasing an additional 111,188 shares in the last quarter. Institutional investors own 80.47% of the company’s stock.

NASDAQ:LULU traded up $2.54 during trading hours on Tuesday, hitting $175.56. The stock had a trading volume of 75,646 shares, compared to its average volume of 2,334,055. Lululemon Athletica inc. has a one year low of $94.20 and a one year high of $174.64. The company has a market capitalization of $22.69 billion, a PE ratio of 45.75, a PEG ratio of 2.09 and a beta of 0.52.

Lululemon Athletica (NASDAQ:LULU) last issued its earnings results on Wednesday, March 27th. The apparel retailer reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.11. Lululemon Athletica had a net margin of 14.71% and a return on equity of 35.49%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts forecast that Lululemon Athletica inc. will post 4.62 earnings per share for the current year.

Lululemon Athletica announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the apparel retailer to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other Lululemon Athletica news, major shareholder Dennis J. Wilson sold 244,539 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $149.83, for a total value of $36,639,278.37. Following the completion of the sale, the insider now owns 3,852 shares of the company’s stock, valued at $577,145.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis J. Wilson sold 155,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $144.43, for a total transaction of $22,502,194.00. Following the completion of the sale, the director now directly owns 3,852 shares of the company’s stock, valued at approximately $556,344.36. The disclosure for this sale can be found here. Insiders sold 2,142,883 shares of company stock valued at $316,468,220 in the last ninety days. Insiders own 0.32% of the company’s stock.

A number of brokerages have recently issued reports on LULU. Bank of America upped their target price on shares of Lululemon Athletica from $185.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub raised shares of Lululemon Athletica from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. UBS Group boosted their price target on shares of Lululemon Athletica from $147.00 to $176.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Zacks Investment Research raised shares of Lululemon Athletica from a “hold” rating to a “strong-buy” rating and set a $193.00 price target for the company in a research note on Monday, April 1st. Finally, Argus boosted their price target on shares of Lululemon Athletica to $195.00 and gave the stock a “buy” rating in a research note on Friday, March 29th. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Lululemon Athletica has a consensus rating of “Buy” and an average price target of $168.56.

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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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