PNC Financial Services Group Inc. Has $4 Million Stock Position in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• PNC Financial Services Group Inc. reduced its stake in lululemon athletica by 22.1%, holding 14,129 shares valued at approximately $4 million as of its latest SEC filing.
• CEO Calvin McDonald sold 27,049 shares of lululemon stock for over $6.37 million, resulting in a 19.66% decrease in his ownership.
• Analysts have adjusted their price targets for lululemon, with the consensus rating being a "Moderate Buy" and an average target price of $329.91.

PNC Financial Services Group Inc. lessened its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 22.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,129 shares of the apparel retailer's stock after selling 4,009 shares during the period. PNC Financial Services Group Inc.'s holdings in lululemon athletica were worth $3,999,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. N.E.W. Advisory Services LLC acquired a new stake in shares of lululemon athletica in the first quarter valued at about $25,000. Cornerstone Planning Group LLC increased its position in lululemon athletica by 506.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock valued at $26,000 after purchasing an additional 81 shares during the period. Anderson Financial Strategies LLC acquired a new stake in lululemon athletica during the 4th quarter valued at approximately $30,000. Garde Capital Inc. bought a new position in lululemon athletica during the 1st quarter worth approximately $35,000. Finally, CENTRAL TRUST Co lifted its position in shares of lululemon athletica by 154.9% in the 1st quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock worth $37,000 after purchasing an additional 79 shares during the period. Institutional investors own 85.20% of the company's stock.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald sold 27,049 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the sale, the chief executive officer owned 110,564 shares in the company, valued at approximately $26,058,829.16. This trade represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LULU. Jefferies Financial Group decreased their price objective on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating for the company in a research report on Friday, June 6th. UBS Group decreased their price target on lululemon athletica from $330.00 to $290.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Wells Fargo & Company lowered their price objective on lululemon athletica from $270.00 to $225.00 and set an "equal weight" rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered lululemon athletica from an "overweight" rating to a "neutral" rating and cut their target price for the company from $303.00 to $224.00 in a research report on Tuesday, July 22nd. Finally, KeyCorp decreased their target price on lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $329.91.

lululemon athletica Stock Down 2.7%

LULU stock opened at $191.14 on Friday. The firm has a market cap of $22.91 billion, a PE ratio of 12.95, a P/E/G ratio of 1.67 and a beta of 1.16. The business has a 50 day moving average of $238.95 and a 200-day moving average of $294.91. lululemon athletica inc. has a 12-month low of $189.77 and a 12-month high of $423.32.

lululemon athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, hitting the consensus estimate of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the firm earned $2.54 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that lululemon athletica inc. will post 14.36 earnings per share 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.

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