Pinnacle Wealth Management Advisory Group LLC Makes New Investment in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) during the fourth quarter, Holdings Channel reports. The fund bought 599 shares of the apparel retailer’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lululemon Athletica by 0.5% during the third quarter. Vanguard Group Inc. now owns 7,323,850 shares of the apparel retailer’s stock worth $2,824,150,000 after purchasing an additional 38,432 shares during the period. Morgan Stanley grew its holdings in Lululemon Athletica by 29.2% during the 3rd quarter. Morgan Stanley now owns 1,934,683 shares of the apparel retailer’s stock worth $746,034,000 after acquiring an additional 437,069 shares in the last quarter. Schroder Investment Management Group raised its stake in Lululemon Athletica by 20.0% in the third quarter. Schroder Investment Management Group now owns 1,865,091 shares of the apparel retailer’s stock valued at $719,198,000 after buying an additional 310,347 shares in the last quarter. American Century Companies Inc. lifted its holdings in Lululemon Athletica by 11.1% during the 3rd quarter. American Century Companies Inc. now owns 1,373,814 shares of the apparel retailer’s stock worth $529,756,000 after buying an additional 137,454 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Lululemon Athletica by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,339,078 shares of the apparel retailer’s stock valued at $516,362,000 after acquiring an additional 52,348 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Trading Up 2.1 %

Shares of Lululemon Athletica stock traded up $7.40 during midday trading on Thursday, reaching $353.01. The company had a trading volume of 866,348 shares, compared to its average volume of 1,730,235. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39. The company has a market capitalization of $44.48 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. The stock has a fifty day simple moving average of $396.53 and a 200 day simple moving average of $437.09.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.40 earnings per share. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.15 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on LULU shares. BTIG Research started coverage on Lululemon Athletica in a report on Wednesday. They set a “buy” rating and a $425.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. Guggenheim cut their target price on shares of Lululemon Athletica from $550.00 to $525.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Morgan Stanley cut their price target on Lululemon Athletica from $539.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Finally, Barclays cut Lululemon Athletica from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $546.00 to $395.00 in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $474.79.

Insiders Place Their Bets

In related news, Director Martha A. M. Morfitt bought 700 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were purchased at an average cost of $389.29 per share, with a total value of $272,503.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at $194,645. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% 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.