PNC Financial Services Group Inc. Has $7.92 Million Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

PNC Financial Services Group Inc. lifted its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,493 shares of the apparel retailer’s stock after purchasing an additional 2,688 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lululemon Athletica were worth $7,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. boosted its stake in Lululemon Athletica by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in Lululemon Athletica in the 3rd quarter valued at $27,000. Morton Brown Family Wealth LLC acquired a new stake in Lululemon Athletica in the 4th quarter valued at $31,000. Farmers & Merchants Investments Inc. acquired a new stake in Lululemon Athletica in the 4th quarter valued at $40,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Lululemon Athletica in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $550.00 price objective on shares of Lululemon Athletica in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Guggenheim cut their price objective on Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Truist Financial cut their price objective on Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Finally, Wells Fargo & Company dropped their target price on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a research 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-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $465.48.

Insider Buying and Selling at Lululemon Athletica

In other news, Director Martha A. M. Morfitt purchased 700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $194,645. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of NASDAQ LULU opened at $299.74 on Friday. The stock has a 50 day moving average price of $366.72 and a 200 day moving average price of $431.38. Lululemon Athletica Inc. has a 52 week low of $295.28 and a 52 week high of $516.39. The stock has a market capitalization of $37.77 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating the consensus estimate of $5.00 by $0.29. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm posted $4.40 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current year.

About Lululemon Athletica

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.