Deepwater Asset Management LLC increases Lululemon stake in Q2 and company reports earnings surpassing estimates.

Deepwater Asset Management LLC raised its stake in Lululemon Athletica Inc. by 25.7% in Q2, now holding 42,673 shares. The company reported earnings of $3.15 per share, surpassing estimates, and revenue of $2.40 billion. Lululemon's Board initiated a $1 billion stock buyback program. Other institutional investors also adjusted their positions, with a consensus target price of $354.94 and a "Moderate Buy" rating for the stock.