Independence Bank of Kentucky Sells 478 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Independence Bank of Kentucky lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 61.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 295 shares of the apparel retailer’s stock after selling 478 shares during the period. Independence Bank of Kentucky’s holdings in Lululemon Athletica were worth $84,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LULU. Brighton Jones LLC bought a new stake in shares of Lululemon Athletica during the fourth quarter valued at approximately $429,000. DAVENPORT & Co LLC raised its stake in Lululemon Athletica by 26.6% in the fourth quarter. DAVENPORT & Co LLC now owns 957 shares of the apparel retailer’s stock worth $366,000 after buying an additional 201 shares in the last quarter. Robertson Stephens Wealth Management LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $250,000. Bleakley Financial Group LLC raised its stake in Lululemon Athletica by 9.7% in the fourth quarter. Bleakley Financial Group LLC now owns 1,016 shares of the apparel retailer’s stock worth $389,000 after buying an additional 90 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Lululemon Athletica in the fourth quarter worth approximately $36,000. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $265.27 on Monday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $423.32. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.22 and a beta of 1.26. The firm’s fifty day moving average is $285.93 and its two-hundred day moving average is $338.24.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, meeting the consensus estimate of $2.60. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Lululemon Athletica from $353.00 to $324.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird reduced their price objective on shares of Lululemon Athletica from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Friday. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Morgan Stanley reduced their price objective on shares of Lululemon Athletica from $373.00 to $346.00 and set an “overweight” rating for the company in a research note on Wednesday, May 28th. Finally, Evercore ISI lifted their price target on shares of Lululemon Athletica from $320.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of “Moderate Buy” and an average target price of $344.96.

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.