National Bank of Canada FI Buys 7,524 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

National Bank of Canada FI grew its position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 40.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,916 shares of the specialty retailer's stock after acquiring an additional 7,524 shares during the period. National Bank of Canada FI owned 0.06% of Ulta Beauty worth $10,084,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Choreo LLC raised its position in shares of Ulta Beauty by 71.7% during the 2nd quarter. Choreo LLC now owns 2,868 shares of the specialty retailer's stock valued at $1,103,000 after acquiring an additional 1,198 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Ulta Beauty in the 2nd quarter worth $19,136,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Ulta Beauty by 5.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer's stock worth $1,072,000 after purchasing an additional 139 shares during the period. Jensen Investment Management Inc. lifted its position in Ulta Beauty by 17.9% during the 3rd quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer's stock worth $4,409,000 after buying an additional 1,720 shares in the last quarter. Finally, Distillate Capital Partners LLC bought a new stake in Ulta Beauty during the 2nd quarter worth about $14,665,000. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Ulta Beauty from $472.00 to $480.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Bank of America decreased their target price on shares of Ulta Beauty from $425.00 to $380.00 and set a "neutral" rating on the stock in a research report on Friday, August 30th. Piper Sandler increased their target price on shares of Ulta Beauty from $357.00 to $360.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Oppenheimer increased their target price on shares of Ulta Beauty from $435.00 to $505.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ulta Beauty from $426.00 to $424.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Ulta Beauty presently has an average rating of "Hold" and an average price target of $439.30.

Ulta Beauty Stock Down 1.4 %

Ulta Beauty stock traded down $6.18 during mid-day trading on Thursday, hitting $423.91. 619,089 shares of the stock were exchanged, compared to its average volume of 983,115. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 2.42 and a beta of 1.33. Ulta Beauty, Inc. has a 12 month low of $318.17 and a 12 month high of $574.76. The firm's fifty day simple moving average is $376.51 and its two-hundred day simple moving average is $377.50.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. Ulta Beauty's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts forecast that Ulta Beauty, Inc. will post 23.48 earnings per share for the current fiscal year.

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.