10 Best Retail Stocks To Buy Now

6. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 51

Lululemon Athletica Inc. (NASDAQ:LULU) is an apparel, accessories, and luxury goods company based in Vancouver, Canada. The company designs and retails athletic apparel, footwear, and accessories.

In the first quarter, sales for Lululemon Athletica Inc. (NASDAQ:LULU) rose by 10%. The company benefits from its innovation in the apparel and footwear space, which ensures that it keeps up with the competition. Additionally, Lululemon Athletica Inc. (NASDAQ:LULU) distributes its products through a mixed approach using e-commerce and company-operated physical stores, which aid in reaching greater consumer bases and raising sales.

At the end of the first quarter, 51 hedge funds were long Lululemon Athletica Inc. (NASDAQ:LULU). Their total stake value in the company was $842.9 million.

As of June 6, Stifel analysts hold a Buy rating on Lululemon Athletica Inc. (NASDAQ:LULU). The consensus average price target on the stock is $410.4 as of June 28, with a high forecast of $505, showing immense upside potential.

Citadel Investment Group was the largest shareholder in Lululemon Athletica Inc. (NASDAQ:LULU) at the end of the first quarter, holding 1.1 million shares in the company.

Carillon Tower Advisers mentioned Lululemon Athletica Inc. (NASDAQ:LULU) in its first-quarter 2024 investor letter:

“Lululemon Athletica Inc. (NASDAQ:LULU) designs, distributes and retails athletic apparel and accessories. The company reported financial results that were ahead of estimates, but forward guidance came in slightly below what investors expected. The stock posted lackluster performance as the market priced in expectations that Lululemon’s U.S. business will slow down a bit more than initially anticipated.”