Truist Financial Corp Has $7.68 Million Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Truist Financial Corp increased its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,077 shares of the apparel retailer’s stock after buying an additional 129 shares during the period. Truist Financial Corp’s holdings in Lululemon Athletica were worth $7,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in Lululemon Athletica by 74,856.2% during the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Lululemon Athletica during the 3rd quarter worth about $93,476,000. The Manufacturers Life Insurance Company raised its holdings in Lululemon Athletica by 136.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in Lululemon Athletica during the 3rd quarter worth about $81,405,000. Finally, River Road Asset Management LLC bought a new stake in Lululemon Athletica during the 3rd quarter worth about $79,503,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LULU has been the subject of several recent research reports. Evercore ISI boosted their price objective on Lululemon Athletica from $440.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. TD Cowen boosted their price objective on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Barclays upped their price target on Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Needham & Company LLC raised Lululemon Athletica from a “hold” rating to a “buy” rating and set a $475.00 price target for the company in a research note on Friday, January 10th. Finally, Robert W. Baird upped their price target on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $399.14.

Lululemon Athletica Stock Down 1.9 %

NASDAQ:LULU opened at $358.97 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $480.94. The business has a 50 day moving average price of $388.35 and a two-hundred day moving average price of $324.60. The company has a market cap of $43.72 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. As a group, analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Lululemon Athletica 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.