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

Pitcairn Co. trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 57.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,233 shares of the apparel retailer’s stock after selling 3,013 shares during the period. Pitcairn Co.’s holdings in Lululemon Athletica were worth $606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in shares of Lululemon Athletica by 6.9% during the first quarter. Advisors Asset Management Inc. now owns 1,433 shares of the apparel retailer’s stock worth $560,000 after purchasing an additional 92 shares during the last quarter. Caxton Associates LP bought a new position in Lululemon Athletica in the first quarter worth approximately $345,000. B. Riley Wealth Advisors Inc. increased its holdings in Lululemon Athletica by 30.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,543 shares of the apparel retailer’s stock worth $2,909,000 after purchasing an additional 1,748 shares during the period. California State Teachers Retirement System raised its position in Lululemon Athletica by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 186,216 shares of the apparel retailer’s stock valued at $72,745,000 after purchasing an additional 940 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Lululemon Athletica by 655.9% during the 1st quarter. Tidal Investments LLC now owns 8,194 shares of the apparel retailer’s stock worth $3,201,000 after buying an additional 7,110 shares in the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Trading Up 3.0 %

Shares of NASDAQ LULU opened at $326.72 on Tuesday. The company has a 50 day simple moving average of $293.06 and a two-hundred day simple moving average of $287.86. The stock has a market cap of $40.11 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 2.31 and a beta of 1.24. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. Analysts forecast that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Wall Street Analyst Weigh In

LULU has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Lululemon Athletica from $326.00 to $314.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Barclays reduced their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Citigroup dropped their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Piper Sandler boosted their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Truist Financial increased their target price on Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $357.13.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

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.