Truist Financial Corp Sells 8,972 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Truist Financial Corp cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,078 shares of the apparel retailer’s stock after selling 8,972 shares during the period. Truist Financial Corp’s holdings in Lululemon Athletica were worth $21,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Daymark Wealth Partners LLC grew its stake in shares of Lululemon Athletica by 3.8% in the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after purchasing an additional 21 shares during the period. Simon Quick Advisors LLC grew its holdings in shares of Lululemon Athletica by 1.9% in the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock worth $612,000 after purchasing an additional 22 shares during the last quarter. Pinnacle Financial Partners Inc increased its position in shares of Lululemon Athletica by 1.9% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock worth $646,000 after purchasing an additional 23 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in Lululemon Athletica by 11.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after purchasing an additional 25 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Lululemon Athletica by 3.3% in the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock valued at $312,000 after buying an additional 26 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Trading Down 0.2 %

Lululemon Athletica stock opened at $363.96 on Tuesday. The company has a fifty day simple moving average of $408.86 and a 200 day simple moving average of $439.09. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39. The company has a market cap of $45.86 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.40 EPS. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

Insider Buying and Selling

In related news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

LULU has been the subject of a number of research reports. Citigroup lowered their target price on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. HSBC lowered their price objective on shares of Lululemon Athletica from $500.00 to $405.00 in a research report on Wednesday, April 10th. Piper Sandler decreased their price target on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group dropped their price objective on shares of Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $476.57.

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.