Equitable Trust Co. Lowers Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Equitable Trust Co. reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 16.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 764 shares of the apparel retailer’s stock after selling 152 shares during the period. Equitable Trust Co.’s holdings in Lululemon Athletica were worth $292,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LULU. Sound Income Strategies LLC increased its position in Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 65 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth $36,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Lululemon Athletica in the 4th quarter worth $38,000. Paladin Wealth LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter worth $29,000. Finally, JFS Wealth Advisors LLC boosted 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 valued at $31,000 after acquiring an additional 65 shares during the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

LULU opened at $397.63 on Wednesday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94. The company has a 50-day moving average of $388.91 and a 200-day moving average of $317.65. The company has a market capitalization of $48.42 billion, a P/E ratio of 28.71, a PEG ratio of 2.51 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.18. The firm had revenue of $2.40 billion for 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%. Lululemon Athletica’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 earnings per share. As a group, sell-side analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LULU has been the topic of a number of research reports. Robert W. Baird raised their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Truist Financial raised their price target on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a “buy” rating in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $430.00 price objective (up from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Citigroup raised their target price on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Oppenheimer upped their price target 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $399.14.

Insider Buying and Selling

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

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.