5 Growth Stocks To Buy That Are Too Cheap To Ignore

3. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 50

Lululemon Athletica Inc. (NASDAQ:LULU) is a sportswear and athletic apparel company. The firm sells shorts, tops, jackets, and pursuits. It is headquartered in Vancouver, Canada.

Lululemon Athletica Inc. (NASDAQ:LULU) is one of the fastest growing apparel companies in the industry. The firm has grown its sales in the U.S., Canada, and globally by 28%, 24%, and 35%, respectively, in its second quarter, and its trailing twelve month sales growth for the regions stands at 25%, 34%, and 23%. Additionally, the firm is also aggressively targeting the Chinese market, and it has opened 96 stores in the country, for its second largest global presence.

Raymond James set a $345 share price target for the company in October 2022, stating that investors should take a long term view. As this year’s second quarter ended, 50 out of the 895 hedge funds polled by Insider Monkey had held a stake in Lululemon Athletica Inc. (NASDAQ:LULU).

Lululemon Athletica Inc. (NASDAQ:LULU)’s largest investor is Ken Griffin’s Citadel Investment Group which owns 967,492 shares that are worth $263 million.