Truist Financial Corp Decreases Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

Truist Financial Corp decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,078 shares of the apparel retailer's stock after selling 8,972 shares during the quarter. Truist Financial Corp's holdings in Lululemon Athletica were worth $21,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Valley National Advisers Inc. increased 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 worth $25,000 after buying an additional 42 shares during the period. Morton Brown Family Wealth LLC purchased a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $31,000. Milestone Investment Advisors LLC bought a new stake in shares of Lululemon Athletica during the third quarter valued at approximately $27,000. Bogart Wealth LLC raised its stake in shares of Lululemon Athletica by 270.0% during the third quarter. Bogart Wealth LLC now owns 74 shares of the apparel retailer's stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $40,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lululemon Athletica news, Director Martha A. M. Morfitt purchased 700 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

Lululemon Athletica Trading Down 0.9 %

Shares of NASDAQ:LULU traded down $3.36 on Tuesday, hitting $360.60. 1,591,707 shares of the company were exchanged, compared to its average volume of 1,765,860. The firm has a market capitalization of $45.44 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39. The stock's 50 day moving average price is $407.18 and its 200 day moving average price is $438.97.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts' consensus estimates of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analysts' expectations of $3.19 billion. Lululemon Athletica had a return on equity of 44.41% and a net margin of 16.11%. The firm's revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.40 EPS. On average, equities analysts predict that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on LULU. TD Cowen decreased their target price on Lululemon Athletica from $553.00 to $515.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company decreased their price objective on Lululemon Athletica from $450.00 to $425.00 and set an "equal weight" rating for the company in a report on Friday, March 22nd. Jefferies Financial Group dropped their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an "underperform" rating on the stock in a report on Thursday, April 4th. Robert W. Baird cut their target price on shares of Lululemon Athletica from $555.00 to $505.00 and set an "outperform" rating on the stock in a research report on Friday, April 19th. Finally, BMO Capital Markets upped their price target on shares of Lululemon Athletica from $408.00 to $420.00 and gave the stock a "market perform" rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, Lululemon Athletica currently has a consensus rating of "Moderate Buy" and an average price target of $476.57.

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.