Wedbush Securities Inc Lowers stake in Lululemon Athletica (LULU)

Lululemon Athletica (LULU) : Wedbush Securities Inc reduced its stake in Lululemon Athletica by 0.38% during the most recent quarter end. The investment management company now holds a total of 33,109 shares of Lululemon Athletica which is valued at $2,562,637 after selling 127 shares in Lululemon Athletica , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Lululemon Athletica makes up approximately 0.42% of Wedbush Securities Inc’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp sold out all of its stake in LULU during the most recent quarter. The investment firm sold 2,587 shares of LULU which is valued $200,234.

Lululemon Athletica opened for trading at $77.85 and hit $78.96 on the upside on Monday, eventually ending the session at $78.52, with a gain of 0.93% or 0.72 points. The heightened volatility saw the trading volume jump to 10,55,949 shares. Company has a market cap of $9,986 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 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 .Company shares were Reiterated by Telsey Advisory Group on Jun 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 82 from a previous price target of $78 .

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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