M&T Bank Corp Sells 880 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

M&T Bank Corp decreased its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,996 shares of the specialty retailer's stock after selling 880 shares during the period. M&T Bank Corp's holdings in Ulta Beauty were worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ULTA. Capital World Investors bought a new position in Ulta Beauty in the fourth quarter worth approximately $430,674,000. Norges Bank bought a new position in Ulta Beauty in the fourth quarter worth approximately $239,432,000. Marshall Wace LLP raised its position in Ulta Beauty by 10,336.7% in the fourth quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer's stock worth $199,681,000 after acquiring an additional 454,711 shares during the period. GAMMA Investing LLC raised its position in 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 period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ulta Beauty in the fourth quarter worth approximately $73,780,000. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Telsey Advisory Group reissued an "outperform" rating and issued a $520.00 price objective on shares of Ulta Beauty in a research note on Friday. Piper Sandler reissued a "neutral" rating and issued a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. UBS Group increased their price objective on shares of Ulta Beauty from $490.00 to $525.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Barclays increased their price objective on shares of Ulta Beauty from $327.00 to $485.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Finally, DA Davidson increased their price objective on shares of Ulta Beauty from $485.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $465.04.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock traded down $5.89 during trading on Tuesday, hitting $473.78. The stock had a trading volume of 552,400 shares, compared to its average volume of 1,039,983. The firm's fifty day simple moving average is $447.52 and its 200-day simple moving average is $403.46. The stock has a market cap of $21.30 billion, a PE ratio of 18.51, a PEG ratio of 2.91 and a beta of 1.08. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $498.52.

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

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.