Comerica Bank Buys 1,068 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Comerica Bank increased its stake in Ulta Beauty Inc. by 14.4% during the first quarter, owning 8,482 shares valued at approximately $3.1 million.
• Analysts have raised their price targets for Ulta Beauty, with Goldman Sachs setting a new target of $584.00 while Piper Sandler increased it to $437.00.
• The company reported $5.78 EPS for the last quarter, exceeding estimates and marking a 9.3% revenue growth from the previous year.

Comerica Bank increased its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,482 shares of the specialty retailer's stock after purchasing an additional 1,068 shares during the quarter. Comerica Bank's holdings in Ulta Beauty were worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ULTA. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ulta Beauty by 128.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock worth $449,021,000 after acquiring an additional 688,267 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ulta Beauty by 38,770.6% in the first quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer's stock worth $162,565,000 after acquiring an additional 442,372 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after acquiring an additional 410,900 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Ulta Beauty by 64.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after acquiring an additional 366,147 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Ulta Beauty by 5,117.0% in the first quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock worth $80,753,000 after acquiring an additional 216,089 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler reissued a "neutral" rating and issued a $437.00 target price (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Cowen reissued a "hold" rating on shares of Ulta Beauty in a report on Friday. Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a report on Friday. Evercore ISI lifted their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a "buy" rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ulta Beauty currently has a consensus rating of "Hold" and an average target price of $536.75.

Ulta Beauty Stock Up 8.1%

Ulta Beauty stock traded up $39.79 during mid-day trading on Tuesday, hitting $532.52. 2,198,905 shares of the stock were exchanged, compared to its average volume of 758,975. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $538.59. The firm's fifty day simple moving average is $500.78 and its two-hundred day simple moving average is $429.22. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.88 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $5.30 EPS. The company's revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Ulta Beauty 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.