PNC Financial Services Group Inc. Boosts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

PNC Financial Services Group Inc. lifted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,692 shares of the apparel retailer’s stock after acquiring an additional 1,579 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lululemon Athletica were worth $4,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Paladin Wealth LLC bought a new position in Lululemon Athletica in the 3rd quarter worth $29,000. Versant Capital Management Inc raised its holdings in Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 40 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica in the second quarter worth about $33,000. Institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LULU shares. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $463.00 to $286.00 in a report on Friday, August 2nd. Stifel Nicolaus dropped their target price on shares of Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Telsey Advisory Group reduced their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Barclays dropped their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Finally, Truist Financial lifted their target price on Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $357.13.

Lululemon Athletica Trading Up 0.6 %

NASDAQ:LULU opened at $317.11 on Friday. The company has a market cap of $38.93 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The stock has a fifty day simple moving average of $291.83 and a 200-day simple moving average of $288.45.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Lululemon Athletica Company Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.