Principal Financial Group Inc. raised its stake in Lululemon Athletica Inc. (NASDAQ:LULU – Free Report) by 61.2% in the third quarter, HoldingsChannel.com reports. The fund owned 250,175 shares of the apparel retailer’s stock after purchasing an additional 94,997 shares during the quarter. Principal Financial Group Inc.’s holdings in Lululemon Athletica were worth $67,885,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in LULU. Shepherd Financial Partners LLC acquired a new position in Lululemon Athletica in the third quarter valued at $953,000. XTX Topco Ltd increased its stake in Lululemon Athletica by 281.4% in the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock valued at $2,657,000 after purchasing an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Lululemon Athletica by 31.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock valued at $4,607,000 after purchasing an additional 3,721 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Lululemon Athletica by 9.7% in the second quarter. Gateway Investment Advisers LLC now owns 34,709 shares of the apparel retailer’s stock valued at $10,368,000 after purchasing an additional 3,077 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Lululemon Athletica by 19.2% in the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after purchasing an additional 2,500 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.
Lululemon Athletica Stock Down 2.1 %
Shares of NASDAQ LULU opened at $308.53 on Friday. The stock’s 50 day moving average price is $279.60 and its two-hundred day moving average price is $291.78. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $516.39. The stock has a market capitalization of $37.88 billion, a P/E ratio of 23.84, a PEG ratio of 2.28 and a beta of 1.24.
Lululemon Athletica (NASDAQ:LULU – Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.02 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on LULU shares. Barclays dropped their target price on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Morgan Stanley lowered their price target on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Truist Financial boosted their price target on Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. UBS Group lowered their price target on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. 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 MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $357.13.
Read Our Latest Report on Lululemon Athletica
Insider Buying and Selling at Lululemon Athletica
In other Lululemon Athletica 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 transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the 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 sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was 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 currently owned by insiders.
Lululemon Athletica Company Profile
(Free Report)
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.
Further Reading
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