Manning & Napier Advisors LLC Decreased Stake in Lululemon Athletica INC (NASDAQ:LULU) by $69.32 Million as Shares Rose


Manning & Napier Advisors Llc decreased its stake in Lululemon Athletica Inc (NASDAQ:LULU) by 11.23% based on its latest 2016Q2 regulatory filing with the SEC. Manning & Napier Advisors Llc sold 1.03M shares as the company’s stock rose 21.21% with the market. The institutional investor held 8.18M shares of the apparel company at the end of 2016Q2, valued at $553.73 million, down from 9.21 million at the end of the previous reported quarter. Manning & Napier Advisors Llc who had been investing in Lululemon Athletica Inc for a number of months, seems to be less bullish one the $9.08 billion market cap company. The stock is down 1.44% or $0.95 after the negative news, hitting $65.05 per share. About 1.10M shares traded hands. Lululemon Athletica inc. (NASDAQ:LULU) has risen 13.87% since February 8, 2016 and is uptrending. It has underperformed by 2.62% the S&P500.

Manning & Napier Advisors Llc, which manages about $52.21 billion and $15.82 billion US Long portfolio, upped its stake in Medtronic Plc (NYSE:MDT) by 2.78 million shares to 7.80M shares, valued at $584.70M in 2016Q2, according to the filing. It also increased its holding in Alibaba Group Hldg Ltd (NYSE:BABA) by 53,720 shares in the quarter, for a total of 3.41M shares, and has risen its stake in Vornado Rlty Tr (NYSE:VNO).

Manning & Napier Advisors Llc is a New York-based institutional investor with more than $52.21 billion AUM in May, 2014. This fund invests only a small percentage of its assets in equities and options. Manning & Napier Advisors Llc is the 89th largest institutional investor in our database. Taken from Manning & Napier Advisors latest Adv, the fund reported to have 386 full and part-time employees. Among which 209 performing investment advisory and research functions. The institutional investor had more than 7000 clients.

The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.33, from 1.12 in 2016Q1. The ratio is negative, as 51 funds sold all LULU shares owned while 113 reduced positions. 36 funds bought stakes while 93 increased positions. They now own 127.50 million shares or 1.01% more from 126.22 million shares in 2016Q1.

Hs Management Partners Llc holds 3.24% of its portfolio in LULU for 1.05 million shares. Manning & Napier Advisors Llc owns 7.04 million shares or 3.15% of their US portfolio. Moreover, Lone Pine Capital Llc has 2.53% invested in the company for 7.41 million shares. The California-based Avalon Global Asset Management Llc has invested 2.38% in the stock. Shellback Capital Lp, a Massachusetts-based fund reported 238,000 shares.

Out of 27 analysts covering Lululemon Athletica Inc. (NASDAQ:LULU), 14 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 52% are positive. $92 is the highest target while $40 is the lowest. The $66.78 average target is 2.66% above today’s ($65.05) stock price. Lululemon Athletica Inc. has been the topic of 61 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Jefferies downgraded the stock on September 8 to “Hold” rating. KeyBanc Capital Markets maintained it with “Overweight” rating and $89 target price in an August 11 report. Canaccord Genuity maintained the shares of LULU in a report on September 2 with “Hold” rating. Deutsche Bank maintained the firm’s rating on June 9. Deutsche Bank has “Hold” rating and $65 price target. Lastly, Telsey Advisory Group maintained the stock with “Outperform” rating in an August 15 report.

Lululemon Athletica Inc. is a designer, distributor and retailer of technical athletic apparel. The company has a market cap of $9.08 billion. The Company’s divisions include Company-operated stores, Direct to consumer and Other. It has a 33.37 P/E ratio. The Firm offers a line of apparel and accessories for women, men and female youth.

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