Truist Financial Corp Sells 13,384 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Truist Financial Corp decreased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 32.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,148 shares of the apparel retailer’s stock after selling 13,384 shares during the period. Truist Financial Corp’s holdings in Lululemon Athletica were worth $8,408,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its stake in Lululemon Athletica by 36.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,942 shares of the apparel retailer’s stock valued at $3,038,000 after purchasing an additional 1,583 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Lululemon Athletica by 18.0% during the fourth quarter. Cetera Advisor Networks LLC now owns 11,544 shares of the apparel retailer’s stock worth $5,902,000 after purchasing an additional 1,765 shares during the last quarter. Exencial Wealth Advisors LLC acquired a new position in Lululemon Athletica in the 4th quarter valued at approximately $292,000. Stephens Inc. AR raised its stake in shares of Lululemon Athletica by 89.1% during the fourth quarter. Stephens Inc. AR now owns 8,061 shares of the apparel retailer’s stock valued at $4,122,000 after acquiring an additional 3,799 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Lululemon Athletica by 13.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 214,845 shares of the apparel retailer’s stock worth $109,848,000 after purchasing an additional 24,892 shares during the period. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Ratings Changes

LULU has been the subject of a number of analyst reports. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research report on Monday, August 26th. Barclays dropped their target price on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Sanford C. Bernstein cut their price target on shares of Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. TD Securities lifted their price objective on Lululemon Athletica from $375.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Telsey Advisory Group dropped their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $354.55.

Lululemon Athletica Price Performance

Shares of LULU stock opened at $270.38 on Friday. The firm has a 50-day moving average of $257.52 and a 200-day moving average of $304.76. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The company has a market cap of $33.80 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.40 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $2.68 earnings per share. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts expect that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.