Comerica Financial institution Acquires 11,723 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)
Comerica Bank grew its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 574.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,763 shares of the specialty retailer’s stock after purchasing an additional 11,723 shares during the period. Comerica Bank’s holdings in Ulta Beauty were worth $5,498,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Loomis Sayles & Co. L P grew its holdings in shares of Ulta Beauty by 364.3% in the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 51 shares during the period. Coppell Advisory Solutions LLC bought a new stake in shares of Ulta Beauty in the second quarter worth $26,000. Parkside Financial Bank & Trust grew its holdings in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 26 shares during the period. Ancora Advisors LLC purchased a new position in Ulta Beauty during the first quarter valued at $31,000. Finally, Fortis Capital Advisors LLC purchased a new position in Ulta Beauty during the first quarter valued at $31,000. Institutional investors own 92.30% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Citigroup boosted their price objective on Ulta Beauty from $440.00 to $485.00 and gave the company a “neutral” rating in a research report on Friday, December 1st. Telsey Advisory Group reissued an “outperform” rating and set a $600.00 price objective on shares of Ulta Beauty in a research note on Monday, November 27th. DA Davidson boosted their price objective on Ulta Beauty from $495.00 to $530.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Robert W. Baird boosted their price objective on Ulta Beauty from $550.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Finally, UBS Group boosted their price objective on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $546.90.
Read Our Latest Stock Analysis on Ulta Beauty
Ulta Beauty Stock Performance
Shares of NASDAQ ULTA opened at $535.98 on Monday. The firm has a market cap of $26.03 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31. The firm’s 50 day moving average price is $518.69 and its 200 day moving average price is $456.14. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. Ulta Beauty had a net margin of 11.37% and a return on equity of 61.42%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.68 EPS. As a group, equities analysts predict that Ulta Beauty, Inc. will post 25.46 EPS for the current year.
Ulta Beauty announced that its Board of Directors has authorized a share repurchase program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Ulta Beauty Company Profile
Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.
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