Principal Financial Group Inc. Acquires 94,997 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Principal Financial Group Inc. raised its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 61.2% during the third quarter, Holdings Channel reports. The firm owned 250,175 shares of the apparel retailer’s stock after buying an additional 94,997 shares during the period. Principal Financial Group Inc.’s holdings in Lululemon Athletica were worth $67,885,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LULU. Geode Capital Management LLC boosted its stake in Lululemon Athletica by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer’s stock valued at $669,036,000 after buying an additional 44,294 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Lululemon Athletica by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock valued at $528,429,000 after purchasing an additional 82,731 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Lululemon Athletica by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after purchasing an additional 37,239 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Lululemon Athletica by 38.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock worth $220,423,000 after purchasing an additional 203,882 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Up 1.6 %

Shares of NASDAQ LULU opened at $379.42 on Friday. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $516.39. The company’s fifty day moving average is $329.42 and its 200-day moving average is $294.08. The stock has a market cap of $46.21 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.84 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 earnings per share. On average, research analysts anticipate that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Lululemon Athletica from $360.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Robert W. Baird increased their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Oppenheimer cut their price objective on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Bank of America decreased their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Evercore ISI lifted their price target on Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling

In other news, insider Celeste Burgoyne sold 24,870 shares of the company’s 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 transaction, the insider now owns 12,429 shares in the company, valued at $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

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.