PNC Financial Services Group Inc. Buys 1,579 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

PNC Financial Services Group Inc. boosted its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,692 shares of the apparel retailer’s stock after purchasing an additional 1,579 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lululemon Athletica were worth $4,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its holdings in shares of Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Paladin Wealth LLC purchased a new stake in Lululemon Athletica during the third quarter valued at approximately $29,000. Versant Capital Management Inc boosted its stake in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 40 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 65 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Lululemon Athletica during the second quarter worth $33,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $317.11 on Friday. The firm has a 50-day simple moving average of $291.83 and a two-hundred day simple moving average of $288.45. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company has a market cap of $38.93 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on LULU shares. Robert W. Baird raised their price objective on Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Barclays cut their price objective on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a research note on Monday, August 26th. Finally, The Goldman Sachs Group lowered shares of Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the company from $463.00 to $286.00 in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $357.13.

Insider Activity

In related news, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 4.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.