Allspring Global Investments Holdings LLC Cuts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Allspring Global Investments Holdings LLC lessened its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 92.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,301 shares of the apparel retailer’s stock after selling 95,936 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lululemon Athletica were worth $2,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LULU. Moody National Bank Trust Division grew its holdings in shares of Lululemon Athletica by 1.0% during the 1st quarter. Moody National Bank Trust Division now owns 2,846 shares of the apparel retailer’s stock worth $1,112,000 after purchasing an additional 29 shares during the period. Congress Wealth Management LLC DE increased its position in shares of Lululemon Athletica by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,519 shares of the apparel retailer’s stock worth $777,000 after acquiring an additional 30 shares in the last quarter. Graypoint LLC raised its stake in shares of Lululemon Athletica by 5.1% in the 1st quarter. Graypoint LLC now owns 699 shares of the apparel retailer’s stock valued at $273,000 after acquiring an additional 34 shares during the period. William Allan Corp lifted its holdings in shares of Lululemon Athletica by 0.8% during the 1st quarter. William Allan Corp now owns 4,896 shares of the apparel retailer’s stock valued at $1,913,000 after acquiring an additional 37 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in Lululemon Athletica by 50.7% during the 4th quarter. FinTrust Capital Advisors LLC now owns 113 shares of the apparel retailer’s stock worth $58,000 after purchasing an additional 38 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets reduced their price objective on Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Morgan Stanley decreased their price target on Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a report on Sunday. HSBC upgraded shares of Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price objective for the company from $405.00 to $425.00 in a research note on Thursday, June 6th. The Goldman Sachs Group downgraded shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their target price for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Finally, Bank of America dropped their price target on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.94.

Lululemon Athletica Price Performance

Shares of LULU opened at $259.47 on Tuesday. The company has a market cap of $32.43 billion, a P/E ratio of 20.81, a PEG ratio of 1.40 and a beta of 1.26. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The stock has a fifty day moving average price of $270.51 and a 200 day moving average price of $336.76.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 13.9 earnings per share for the current year.

Lululemon Athletica declared that its Board of Directors has initiated a share buyback program on Wednesday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Lululemon Athletica 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.