Pinnacle Financial Partners Inc Lowers Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Financial Partners Inc trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,896 shares of the apparel retailer’s stock after selling 165 shares during the period. Pinnacle Financial Partners Inc’s holdings in Lululemon Athletica were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Cromwell Holdings LLC lifted its position in shares of Lululemon Athletica by 258.5% in the fourth quarter. Cromwell Holdings LLC now owns 380 shares of the apparel retailer’s stock valued at $145,000 after acquiring an additional 274 shares in the last quarter. Prakash Investment Advisors LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at about $382,000. Forte Capital LLC ADV lifted its position in shares of Lululemon Athletica by 9.5% in the fourth quarter. Forte Capital LLC ADV now owns 31,941 shares of the apparel retailer’s stock valued at $12,215,000 after acquiring an additional 2,776 shares in the last quarter. Citizens National Bank Trust Department purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at about $599,000. Finally, Morningstar Investment Management LLC purchased a new position in shares of Lululemon Athletica in the fourth quarter valued at about $201,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

LULU opened at $358.97 on Monday. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 2.22 and a beta of 1.19. The stock’s 50 day moving average price is $388.35 and its 200-day moving average price is $325.86. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94.

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, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LULU has been the topic of several research analyst reports. Raymond James restated an “outperform” rating and issued a $430.00 price objective (up from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. Telsey Advisory Group boosted their target price on Lululemon Athletica from $430.00 to $445.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Guggenheim boosted their target price on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Oppenheimer boosted their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.14.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was 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 $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 through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the 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 completion of the transaction, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by 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.