Avalon Global Asset Management Lowers stake in Lululemon Athletica (LULU)

Lululemon Athletica (LULU) : Avalon Global Asset Management reduced its stake in Lululemon Athletica by 15.17% during the most recent quarter end. The investment management company now holds a total of 55,900 shares of Lululemon Athletica which is valued at $4,435,106 after selling 10,000 shares in Lululemon Athletica , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Lululemon Athletica makes up approximately 3.78% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Omers Administration Corp sold out all of its stake in LULU during the most recent quarter. The investment firm sold 15,000 shares of LULU which is valued $1,190,100.Cg Asset Management reduced its stake in LULU by selling 2,955 shares or 25.53% in the most recent quarter. The Hedge Fund company now holds 8,620 shares of LULU which is valued at $662,188. Lululemon Athletica makes up approx 0.25% of Cg Asset Management’s portfolio.Winslow Evans Crocker reduced its stake in LULU by selling 50 shares or 20.33% in the most recent quarter. The Hedge Fund company now holds 196 shares of LULU which is valued at $14,923.

Lululemon Athletica opened for trading at $80.51 and hit $81.05 on the upside on Tuesday, eventually ending the session at $80.24, with a gain of 0.16% or 0.13 points. The heightened volatility saw the trading volume jump to 9,76,037 shares. Company has a market cap of $10,205 M.

On the company’s financial health, Lululemon Athletica reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 8, 2016. Analyst had a consensus of $0.31. The company had revenue of $495.50 million for the quarter, compared to analysts expectations of $487.82 million. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Lululemon Athletica. Company shares were Reiterated by Telsey Advisory Group on Aug 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $82 .Company shares were Reiterated by Deutsche Bank on Jun 9, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Company shares were Reiterated by Wolfe Research on Jun 9, 2016 to “Peer Perform”, Firm has raised the Price Target to $ 74 from a previous price target of $66 .

lululemon athletica inc. is a designer and retailer of technical athletic apparel. The Company offers a line of apparel and accessories for women men and female youth. Its apparel assortment includes items such as pants shorts tops and jackets designed for healthy lifestyle activities and athletic pursuits such as yoga running general fitness and dance-inspired apparel for female youth. The Company conducts its business through two channels: corporate-owned stores and direct to consumer. The Company markets its athletic apparel under the lululemon athletica and ivivva athletica brand names. As of February 1 2015 the Company’s retail footprint included 211 stores in the United States 57 stores in Canada 26 stores in Australia five in New Zealand two in the United Kingdom and one in Singapore. The Company’s retail stores are located primarily on street locations in lifestyle centers and in malls.

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