Huntington National Bank Cuts Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Huntington National Bank trimmed its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 37.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,316 shares of the apparel retailer’s stock after selling 1,966 shares during the quarter. Huntington National Bank’s holdings in Lululemon Athletica were worth $900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of 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. Paladin Wealth LLC acquired a new stake in shares of Lululemon Athletica in the third quarter worth approximately $29,000. Ridgewood Investments LLC purchased a new stake in shares of Lululemon Athletica during the second quarter worth approximately $33,000. Finally, Dnca Finance acquired a new position in Lululemon Athletica in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LULU. JPMorgan Chase & Co. dropped their target price on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. KeyCorp dropped their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Piper Sandler raised their target price 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. Robert W. Baird upped their price target on Lululemon Athletica from $350.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Bank of America reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.13.

Lululemon Athletica Stock Down 3.1 %

Shares of LULU opened at $320.01 on Friday. The company has a market cap of $39.29 billion, a P/E ratio of 24.73, a PEG ratio of 2.39 and a beta of 1.24. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm’s 50 day moving average price is $285.03 and its 200 day moving average price is $290.70.

Lululemon Athletica (NASDAQ:LULU) last released 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $2.68 earnings per share. Research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on 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 directly owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.