Ulta Beauty Inc. (NASDAQ:ULTA) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Ulta Beauty by 20.2%, acquiring an additional 2,818 shares, bringing its total holdings to 16,776 shares valued at approximately $6.15 million.
• Ulta Beauty reported better-than-expected quarterly earnings, posting an EPS of $6.70, surpassing analysts' estimates of $5.73, with revenues reaching $2.85 billion.
• Analysts have varied opinions on Ulta Beauty, with target price upgrades from several firms, including Canaccord Genuity, which raised their target from $542 to $600, while Wall Street Zen downgraded it from "buy" to "hold."

Mackenzie Financial Corp boosted its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 20.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,776 shares of the specialty retailer's stock after purchasing an additional 2,818 shares during the quarter. Mackenzie Financial Corp's holdings in Ulta Beauty were worth $6,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ULTA. Geode Capital Management LLC increased its position in Ulta Beauty by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer's stock worth $520,587,000 after purchasing an additional 11,205 shares in the last quarter. Capital World Investors acquired a new stake in Ulta Beauty during the 4th quarter worth approximately $430,674,000. Deutsche Bank AG increased its position in Ulta Beauty by 1.4% during the 4th quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock worth $285,123,000 after purchasing an additional 9,291 shares in the last quarter. Northern Trust Corp increased its position in Ulta Beauty by 14.7% during the 4th quarter. Northern Trust Corp now owns 562,155 shares of the specialty retailer's stock worth $244,498,000 after purchasing an additional 72,004 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Ulta Beauty by 3.9% during the first quarter. TD Asset Management Inc now owns 536,169 shares of the specialty retailer's stock worth $196,527,000 after purchasing an additional 20,124 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Price Performance

ULTA traded down $7.28 during trading hours on Friday, hitting $507.73. 609,772 shares of the stock were exchanged, compared to its average volume of 577,379. The stock has a 50-day simple moving average of $475.19 and a 200-day simple moving average of $411.50. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $523.68. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 3.07 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $6.47 earnings per share. Sell-side analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler restated a "neutral" rating and set a $437.00 price objective (up previously from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Morgan Stanley increased their price objective on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Loop Capital reaffirmed a "hold" rating and issued a $510.00 price objective on shares of Ulta Beauty in a research report on Friday, July 25th. Citigroup increased their price objective on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company increased their price objective on shares of Ulta Beauty from $315.00 to $350.00 and gave the company an "underweight" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $469.09.

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.