CIBC Asset Management Inc Has $3.02 Million Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

CIBC Asset Management Inc lessened its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 36.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,747 shares of the specialty retailer’s stock after selling 4,400 shares during the quarter. CIBC Asset Management Inc’s holdings in Ulta Beauty were worth $3,015,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Metis Global Partners LLC increased its position in Ulta Beauty by 6.0% during the 3rd quarter. Metis Global Partners LLC now owns 3,104 shares of the specialty retailer’s stock worth $1,208,000 after purchasing an additional 176 shares in the last quarter. KBC Group NV grew its stake in shares of Ulta Beauty by 305.3% during the third quarter. KBC Group NV now owns 29,726 shares of the specialty retailer’s stock worth $11,567,000 after buying an additional 22,392 shares during the last quarter. Firetrail Investments PTY Ltd. increased its holdings in shares of Ulta Beauty by 0.7% during the third quarter. Firetrail Investments PTY Ltd. now owns 19,094 shares of the specialty retailer’s stock worth $7,422,000 after buying an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Ulta Beauty by 24.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 9,907 shares of the specialty retailer’s stock valued at $3,855,000 after acquiring an additional 1,977 shares during the last quarter. Finally, GHE LLC acquired a new stake in shares of Ulta Beauty during the 3rd quarter valued at $1,345,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 3.2 %

ULTA opened at $353.35 on Tuesday. The stock has a market cap of $16.65 billion, a PE ratio of 14.18, a P/E/G ratio of 2.10 and a beta of 1.33. Ulta Beauty, Inc. has a 52 week low of $318.17 and a 52 week high of $574.76. The business’s fifty day simple moving average is $379.50 and its 200 day simple moving average is $378.71.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.02 earnings per share. As a group, equities analysts anticipate that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ULTA. B. Riley began coverage on shares of Ulta Beauty in a report on Tuesday, September 10th. They set a “sell” rating and a $300.00 price target on the stock. BMO Capital Markets set a $385.00 price objective on Ulta Beauty in a research report on Thursday, October 17th. Citigroup cut their price objective on Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Piper Sandler raised their price target on shares of Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group dropped their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty has an average rating of “Hold” and a consensus target price of $420.71.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.