Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 888 shares of the apparel retailer’s stock after selling 283 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lululemon Athletica were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MetLife Investment Management LLC acquired a new stake in Lululemon Athletica during the 1st quarter valued at approximately $2,696,000. Panagora Asset Management Inc. raised its position in shares of Lululemon Athletica by 48.4% during the first quarter. Panagora Asset Management Inc. now owns 1,647 shares of the apparel retailer’s stock worth $602,000 after purchasing an additional 537 shares during the period. Yousif Capital Management LLC raised its position in Lululemon Athletica by 2.5% during the first quarter. Yousif Capital Management LLC now owns 4,022 shares of the apparel retailer’s stock valued at $1,469,000 after buying an additional 100 shares during the period. Raymond James Trust N.A. raised its position in Lululemon Athletica by 6.5% during the first quarter. Raymond James Trust N.A. now owns 1,251 shares of the apparel retailer’s stock valued at $457,000 after buying an additional 76 shares during the period. Finally, Prudential PLC acquired a new position in Lululemon Athletica in the 1st quarter worth about $774,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

LULU opened at $378.06 on Wednesday. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.36 and a beta of 1.30. The company has a fifty day moving average of $452.47 and a 200 day moving average of $442.27. Lululemon Athletica Inc. has a fifty-two week low of $326.93 and a fifty-two week high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company posted $4.40 EPS. The business’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.17 earnings per share for the current year.

Lululemon Athletica declared that its board has approved a stock repurchase program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the apparel retailer to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on LULU shares. Morgan Stanley decreased their target price on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Bank of America raised their price target on Lululemon Athletica from $450.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Needham & Company LLC reduced their target price on Lululemon Athletica from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Roth Capital lifted their target price on Lululemon Athletica from $450.00 to $540.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. Finally, Citigroup dropped their price target on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $496.29.

Check Out Our Latest Stock Report on Lululemon Athletica

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $389.29 per share, with a total value of $272,503.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Lululemon Athletica Profile

(Free Report)

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 operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities.

Further Reading

Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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