PNC Financial Services Group Inc. Raises Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

PNC Financial Services Group Inc. raised its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,138 shares of the apparel retailer’s stock after buying an additional 446 shares during the period. PNC Financial Services Group Inc.’s holdings in Lululemon Athletica were worth $6,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Banco Santander S.A. increased its holdings in Lululemon Athletica by 21.3% in the fourth quarter. Banco Santander S.A. now owns 5,763 shares of the apparel retailer’s stock valued at $2,204,000 after buying an additional 1,013 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in Lululemon Athletica by 0.5% in the fourth quarter. Aviance Capital Partners LLC now owns 5,836 shares of the apparel retailer’s stock valued at $2,232,000 after buying an additional 31 shares in the last quarter. EFG Asset Management Americas Corp. increased its holdings in Lululemon Athletica by 95.1% in the fourth quarter. EFG Asset Management Americas Corp. now owns 6,295 shares of the apparel retailer’s stock valued at $2,407,000 after buying an additional 3,068 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Lululemon Athletica by 0.7% in the fourth quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer’s stock valued at $1,353,000 after buying an additional 25 shares in the last quarter. Finally, Marco Investment Management LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at approximately $203,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

LULU has been the topic of several research reports. Barclays increased their price target on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Piper Sandler increased their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. UBS Group increased their price target on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Robert W. Baird increased their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.14.

Lululemon Athletica Trading Down 0.9 %

Shares of LULU stock opened at $316.49 on Thursday. The company’s fifty day simple moving average is $379.38 and its 200-day simple moving average is $334.06. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $480.94. The company has a market cap of $38.54 billion, a PE ratio of 22.85, a P/E/G ratio of 2.22 and a beta of 1.21.

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.