Synovus Financial Corp Has $1.30 Million Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Synovus Financial Corp decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 18.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,410 shares of the apparel retailer’s stock after selling 781 shares during the period. Synovus Financial Corp’s holdings in Lululemon Athletica were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TCTC Holdings LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $26,000. Kestra Investment Management LLC bought a new position in Lululemon Athletica in the 4th quarter valued at about $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth approximately $32,000. Sound Income Strategies LLC boosted its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 65 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Lululemon Athletica during the fourth quarter worth approximately $33,000. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Down 1.6 %

Shares of LULU stock opened at $255.64 on Wednesday. The firm has a market capitalization of $30.84 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The stock’s fifty day simple moving average is $326.21 and its 200 day simple moving average is $339.03.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.29 earnings per share. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LULU shares. Raymond James reissued a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a report on Friday, March 28th. Telsey Advisory Group dropped their target price on Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Needham & Company LLC decreased their price target on shares of Lululemon Athletica from $475.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company lowered their price target on shares of Lululemon Athletica from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Morgan Stanley cut their price objective on shares of Lululemon Athletica from $411.00 to $373.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lululemon Athletica has a consensus rating of “Moderate Buy” and a consensus target price of $371.72.

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.