Old North State Trust LLC Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Old North State Trust LLC reduced its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,280 shares of the apparel retailer’s stock after selling 75 shares during the period. Old North State Trust LLC’s holdings in Lululemon Athletica were worth $347,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LULU. Larson Financial Group LLC increased its stake in shares of Lululemon Athletica by 78.2% during the second 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 during the period. Paladin Wealth LLC bought a new position in Lululemon Athletica during the 3rd quarter worth about $29,000. JFS Wealth Advisors LLC increased its position in Lululemon Athletica by 127.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Lululemon Athletica in the 2nd quarter worth approximately $33,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $389.33 on Friday. The business has a 50 day simple moving average of $316.39 and a two-hundred day simple moving average of $290.85. The stock has a market capitalization of $47.80 billion, a P/E ratio of 28.11, a PEG ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on LULU shares. BMO Capital Markets boosted their target price on shares of Lululemon Athletica from $265.00 to $302.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. TD Cowen raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Wells Fargo & Company decreased their price objective on Lululemon Athletica from $350.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Bank of America reduced their target price on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Oppenheimer lowered their price target on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity at Lululemon Athletica

In related news, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. This represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This 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.