Principal Financial Group Inc. Raises Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Principal Financial Group Inc. grew its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,217 shares of the apparel retailer's stock after buying an additional 4,042 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Lululemon Athletica worth $97,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LULU. JFS Wealth Advisors LLC grew its stake in shares of Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock valued at $31,000 after buying an additional 65 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Lululemon Athletica by 309.5% during the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer's stock worth $33,000 after purchasing an additional 65 shares during the period. Asset Planning Inc purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $36,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Lululemon Athletica during the fourth quarter worth about $38,000. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU traded down $6.85 on Friday, hitting $358.97. 1,400,060 shares of the stock traded hands, compared to its average volume of 1,493,499. The company has a market capitalization of $43.72 billion, a PE ratio of 25.92, a P/E/G ratio of 2.22 and a beta of 1.19. The business has a 50 day simple moving average of $388.35 and a 200 day simple moving average of $324.60. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $480.94.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. On average, equities analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction that occurred 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 completion of the sale, the insider now owns 6,198 shares of the company's stock, valued at approximately $2,399,307.78. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the completion of the sale, the insider now directly owns 12,429 shares of the company's stock, 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LULU. TD Cowen increased their target price on shares of Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Truist Financial increased their target price on shares of Lululemon Athletica from $420.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Oppenheimer increased their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Piper Sandler increased their target price on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lululemon Athletica from $428.00 to $437.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of "Moderate Buy" and a consensus target price of $399.14.

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.