Pinnacle Bancorp Inc. Reduces Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Bancorp Inc. cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 42.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68 shares of the apparel retailer’s stock after selling 51 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Lululemon Athletica were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of LULU. Vanguard Group Inc. boosted its holdings in Lululemon Athletica by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 9,692,969 shares of the apparel retailer’s stock valued at $4,955,918,000 after acquiring an additional 2,369,119 shares during the period. International Assets Investment Management LLC lifted its holdings in Lululemon Athletica by 51,219.6% in the 4th quarter. International Assets Investment Management LLC now owns 688,196 shares of the apparel retailer’s stock worth $351,868,000 after buying an additional 686,855 shares during the period. Norges Bank purchased a new stake in Lululemon Athletica in the 4th quarter worth approximately $236,378,000. Morgan Stanley lifted its holdings in Lululemon Athletica by 29.2% in the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after buying an additional 437,069 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Lululemon Athletica by 20.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock worth $719,198,000 after buying an additional 310,347 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

LULU stock opened at $298.70 on Friday. Lululemon Athletica Inc. has a fifty-two week low of $293.03 and a fifty-two week high of $516.39. The business’s 50-day moving average is $327.07 and its two-hundred day moving average is $408.18. The company has a market cap of $37.34 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 1.53 and a beta of 1.27.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Wednesday, June 5th. The apparel retailer reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company earned $2.28 earnings per share. Lululemon Athletica’s revenue was up 10.4% on a year-over-year basis. Equities analysts predict that Lululemon Athletica Inc. will post 14.29 earnings per share for the current year.

Lululemon Athletica declared that its board has authorized a share repurchase plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the apparel retailer to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird dropped their price objective on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a report on Friday, April 19th. HSBC upgraded Lululemon Athletica from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $425.00 in a research report on Thursday, June 6th. Telsey Advisory Group reduced their price target on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $445.00 price target on shares of Lululemon Athletica in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. reduced their price target on Lululemon Athletica from $509.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $433.06.

Lululemon Athletica 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.