US Bancorp DE Trims Stake in lululemon athletica inc. (NASDAQ:LULU)

Key Points

• US Bancorp DE reduced its stake in lululemon athletica by 34.8%, selling 25,566 shares and bringing its total holdings down to 47,839 shares valued at approximately $13.5 million.
• CEO Calvin Mcdonald sold 27,049 shares at an average price of $235.69, resulting in a 19.66% decrease in his ownership, leaving him with 110,564 shares worth over $26 million.
• Several analysts have lowered their price targets for lululemon athletica, with UBS Group setting a new target of $290, indicating a shift in market sentiment towards the stock.

US Bancorp DE lessened its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 34.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,839 shares of the apparel retailer's stock after selling 25,566 shares during the quarter. US Bancorp DE's holdings in lululemon athletica were worth $13,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in lululemon athletica during the 1st quarter valued at $25,000. Cornerstone Planning Group LLC grew its stake in shares of lululemon athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of lululemon athletica in the 4th quarter worth $30,000. Garde Capital Inc. bought a new stake in shares of lululemon athletica in the 1st quarter worth $35,000. Finally, CENTRAL TRUST Co grew its stake 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 acquiring an additional 79 shares in the last quarter. Institutional investors own 85.20% of the company's stock.

Analyst Upgrades and Downgrades

LULU has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of lululemon athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 3rd. TD Securities boosted their price target on shares of lululemon athletica from $370.00 to $373.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Citigroup cut their price target on shares of lululemon athletica from $325.00 to $270.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. CICC Research reissued a "market perform" rating and issued a $280.49 price target on shares of lululemon athletica in a report on Monday, June 9th. Finally, Jefferies Financial Group cut their price target on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating on the stock in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, lululemon athletica presently has an average rating of "Moderate Buy" and a consensus target price of $332.02.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald sold 27,049 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the completion of the transaction, the chief executive officer directly owned 110,564 shares of the company's stock, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by insiders.

lululemon athletica Price Performance

lululemon athletica stock traded down $1.38 during trading on Tuesday, reaching $195.07. 2,803,889 shares of the company were exchanged, compared to its average volume of 3,127,314. lululemon athletica inc. has a 52-week low of $191.44 and a 52-week high of $423.32. The stock's 50 day simple moving average is $246.38 and its two-hundred day simple moving average is $297.57. The company has a market capitalization of $23.38 billion, a P/E ratio of 13.22, a PEG ratio of 1.67 and a beta of 1.16.

lululemon athletica (NASDAQ:LULU - Get Free Report) last released its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS 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 firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the previous year, the firm posted $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that lululemon athletica inc. will post 14.36 earnings per share for the current year.

lululemon athletica Company 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.