This Analyst is Bearish on These 5 Retail Stocks Amid ‘Soft Landing’ Expectations

3. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 44

Lululemon Athletica Inc. (NASDAQ:LULU) is a Vancouver, Canada-based athletic apparel brand.

Duffy slashed the price target on Lululemon Athletica Inc. (NASDAQ:LULU) from $500 to $381. A difficult macroeconomic outlook and a buildup in inventory are expected to create unfavorable circumstances for Lululemon Athletica Inc. (NASDAQ:LULU) during the second half of 2022. However, Lululemon Athletica Inc. (NASDAQ:LULU) has the benefit of having strong brand momentum and the opportunity to gain market share in the athletic apparel segment due to its growth strategies.

During Q2 2022, ARK Investment Management reduced its holding in Lululemon Athletica Inc. (NASDAQ:LULU) by 5%. The hedge fund only owns 469 shares in Lululemon Athletica Inc. (NASDAQ:LULU) now.