Manning Napier Advisors Lowers stake in Lululemon Athletica (LULU)

Lululemon Athletica (LULU) : Manning Napier Advisors reduced its stake in Lululemon Athletica by 11.23% during the most recent quarter end. The investment management company now holds a total of 8,177,979 shares of Lululemon Athletica which is valued at $529,933,039 after selling 1,034,598 shares in Lululemon Athletica , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.Lululemon Athletica makes up approximately 3.29% of Manning Napier Advisors’s portfolio.

Lululemon Athletica opened for trading at $64.17 and hit $65.8 on the upside on Monday, eventually ending the session at $65.48, with a gain of 1.05% or 0.68 points. The heightened volatility saw the trading volume jump to 15,86,389 shares. Company has a market cap of $8,349 M.

Other Hedge Funds, Including , Gierl Augustine Investment Management Inc added LULU to its portfolio by purchasing 1,300 company shares during the most recent quarter which is valued at $84,240. Lululemon Athletica makes up approx 0.08% of Gierl Augustine Investment Management Inc’s portfolio. Benjamin F. Edwards Company sold out all of its stake in LULU during the most recent quarter. The investment firm sold 420 shares of LULU which is valued $27,216. Integrated Investment Consultants added LULU to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $32,400. Lululemon Athletica makes up approx 0.02% of Integrated Investment Consultants’s portfolio.

On the company’s financial health, Lululemon Athletica reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 30, 2016. Analyst had a consensus of $0.80. The company had revenue of $704.30 million for the quarter, compared to analysts expectations of $693.83 million. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Lululemon Athletica. Company shares were Reiterated by MKM Partners on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 77 from a previous price target of $69 .Company shares were Reiterated by UBS on Mar 31, 2016 to “Neutral”, Firm has raised the Price Target to $ 69 from a previous price target of $60 .Company shares were Reiterated by Nomura on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $59 .

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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