Pitcairn Co. Cuts Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Pitcairn Co. lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,019 shares of the apparel retailer’s stock after selling 214 shares during the period. Pitcairn Co.’s holdings in Lululemon Athletica were worth $772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC bought a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth $32,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $32,000. Sound Income Strategies LLC boosted its position in shares of Lululemon Athletica by 309.5% in the 4th quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in Lululemon Athletica during the 4th quarter worth $33,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 3.1 %

LULU opened at $263.70 on Friday. The firm has a market capitalization of $32.11 billion, a PE ratio of 19.04, a PEG ratio of 2.22 and a beta of 1.31. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32. The firm’s 50-day moving average price is $353.59 and its 200 day moving average price is $339.47.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.85 by $0.29. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business earned $5.29 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LULU has been the subject of several recent analyst reports. Guggenheim raised their price target on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Oppenheimer boosted their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Raymond James restated a “market perform” rating and set a $430.00 price target on shares of Lululemon Athletica in a research note on Friday, March 28th. Truist Financial lowered their price objective on shares of Lululemon Athletica from $460.00 to $380.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. reduced their target price on Lululemon Athletica from $437.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $378.31.

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.