CIBC Asset Management Inc Sells 4,400 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

CIBC Asset Management Inc trimmed its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 36.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,747 shares of the specialty retailer's stock after selling 4,400 shares during the period. CIBC Asset Management Inc's holdings in Ulta Beauty were worth $3,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Choreo LLC raised its position in Ulta Beauty by 71.7% in the 2nd quarter. Choreo LLC now owns 2,868 shares of the specialty retailer's stock valued at $1,103,000 after purchasing an additional 1,198 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ulta Beauty in the second quarter valued at about $19,136,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ulta Beauty by 5.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer's stock valued at $1,072,000 after buying an additional 139 shares during the last quarter. Jensen Investment Management Inc. grew its stake in shares of Ulta Beauty by 17.9% in the 3rd quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer's stock valued at $4,409,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Distillate Capital Partners LLC acquired a new position in shares of Ulta Beauty in the second quarter valued at approximately $14,665,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

Ulta Beauty stock traded down $11.18 during mid-day trading on Tuesday, reaching $342.17. The company's stock had a trading volume of 841,614 shares, compared to its average volume of 964,061. Ulta Beauty, Inc. has a 12-month low of $318.17 and a 12-month high of $574.76. The firm's fifty day moving average price is $379.50 and its two-hundred day moving average price is $378.71. The company has a market capitalization of $16.12 billion, a P/E ratio of 14.18, a PEG ratio of 2.10 and a beta of 1.33.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released 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). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the company posted $6.02 EPS. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts predict that Ulta Beauty, Inc. will post 23.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ULTA has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Ulta Beauty from $328.00 to $335.00 and gave the company an "equal weight" rating in a research note on Friday, August 30th. 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 for the company. Deutsche Bank Aktiengesellschaft decreased their price target on Ulta Beauty from $426.00 to $424.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Bank of America reduced their target price on Ulta Beauty from $425.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, August 30th. Finally, Evercore ISI reduced their target price on shares of Ulta Beauty from $500.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $420.71.

Ulta Beauty Company Profile

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.