5 Best Sporting Goods Stocks To Invest In

02. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders as of Q2, 2022: 50

Based in Canada, Lululemon Athletica Inc. (NASDAQ:LULU) is an athletic apparel retailer. Lululemon Athletica Inc. (NASDAQ:LULU) is expected to grow earnings per share by an average of 21.73% per year over the next five years. Lululemon Athletica’s (NASDAQ:LULU) Q2 comparable sales and margin performance surprised analysts, who now have a generally bullish outlook on the sports apparel firm. On October 13, Raymond James analyst Rick Patel began coverage of Lululemon Athletica Inc. (NASDAQ:LULU) with a Strong Buy rating and $345 price target as analyst started coverage on athletic global brands.

Hedge fund sentiment around Lululemon Athletica (NASDAQ:LULU) has improved. Out of the 895 hedge funds that Insider Monkey was following, 50 had Lululemon Athletica Inc. (NASDAQ:LULU) holdings at the end of the second quarter of 2022, with a total market value of $1.266 billion. Compared to the previous quarter, 44 hedge funds held stakes totaling about $763 million.

Citadel Investment Group was the largest stakeholder in the company, with shares worth $290.49 million. Steve Cohen’s Point72 Asset Management and Israel Englander’s Millennium Management are significant company stakeholders as of Q2, 2022.