Invesco Ltd. Has $298.23 Million Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Invesco Ltd. increased its position in Ulta Beauty Inc. by 10.9%, owning 813,639 shares valued at approximately $298 million as of the last reporting period.
• Equities analysts are optimistic about Ulta Beauty, with notable upgrades from firms like Morgan Stanley and UBS Group, increasing their price targets to $550 and $525, respectively.
• Ulta Beauty reported strong earnings, with $6.70 earnings per share exceeding estimates, marking a 4.5% increase in quarterly revenue compared to last year.

Invesco Ltd. grew its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 813,639 shares of the specialty retailer's stock after purchasing an additional 79,666 shares during the quarter. Invesco Ltd. owned approximately 1.80% of Ulta Beauty worth $298,231,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ULTA. Cerity Partners LLC grew its position in shares of Ulta Beauty by 3.8% in the 4th quarter. Cerity Partners LLC now owns 7,118 shares of the specialty retailer's stock worth $2,871,000 after acquiring an additional 262 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Ulta Beauty during the fourth quarter valued at $28,146,000. Sterling Capital Management LLC raised its holdings in shares of Ulta Beauty by 4.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,043 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 42 shares during the period. Sagespring Wealth Partners LLC bought a new position in shares of Ulta Beauty in the 4th quarter worth about $259,000. Finally, Mariner LLC boosted its holdings in shares of Ulta Beauty by 14.0% in the 4th quarter. Mariner LLC now owns 6,170 shares of the specialty retailer's stock valued at $2,684,000 after buying an additional 759 shares during the period. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ULTA shares. Canaccord Genuity Group increased their price objective on shares of Ulta Beauty from $542.00 to $600.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Truist Financial upped their target price on Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Barclays raised their price target on Ulta Beauty from $327.00 to $485.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Loop Capital restated a "hold" rating and set a $510.00 price objective on shares of Ulta Beauty in a research report on Friday, July 25th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $520.00 target price on shares of Ulta Beauty in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty currently has a consensus rating of "Hold" and an average price target of $473.00.

Ulta Beauty Trading Down 1.2%

Shares of NASDAQ ULTA traded down $6.53 during midday trading on Thursday, reaching $526.18. The company's stock had a trading volume of 692,028 shares, compared to its average volume of 568,971. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $534.10. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 3.21 and a beta of 1.12. The company has a 50 day moving average price of $486.03 and a 200 day moving average price of $416.90.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.47 EPS. Research analysts anticipate 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.