TD Asset Management Inc Decreases Stock Holdings in Ulta Beauty Inc. $ULTA

Key Points

• TD Asset Management Inc. has reduced its stake in Ulta Beauty Inc. by 7.2%, holding approximately 497,458 shares worth $232.7 million after selling 38,711 shares in the second quarter.
• Other institutional investors have increased their positions significantly, with Price T Rowe Associates boosting their stake by 128.2% in the first quarter, now owning 1.2 million shares valued at nearly $449 million.
• Wall Street analysts hold a mostly positive outlook on Ulta, with multiple price target increases from firms like Morgan Stanley and DA Davidson, and an average target price of $549.33 indicating a "Moderate Buy" rating.

TD Asset Management Inc decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,458 shares of the specialty retailer's stock after selling 38,711 shares during the quarter. TD Asset Management Inc owned approximately 1.11% of Ulta Beauty worth $232,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Ulta Beauty by 128.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock valued at $449,021,000 after acquiring an additional 688,267 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ulta Beauty by 81.7% during the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock valued at $334,871,000 after acquiring an additional 410,900 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Ulta Beauty by 64.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock valued at $341,453,000 after acquiring an additional 366,147 shares in the last quarter. Pacer Advisors Inc. boosted its position in Ulta Beauty by 5,117.0% during the 1st quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock valued at $80,753,000 after acquiring an additional 216,089 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Ulta Beauty by 237.7% during the 1st quarter. AQR Capital Management LLC now owns 270,420 shares of the specialty retailer's stock valued at $96,674,000 after acquiring an additional 190,353 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analyst Weigh In

ULTA has been the topic of several research reports. Morgan Stanley lifted their price objective on Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Cowen reaffirmed a "hold" rating on shares of Ulta Beauty in a research report on Friday, August 29th. DA Davidson boosted their price objective on shares of Ulta Beauty from $585.00 to $625.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Oppenheimer boosted their price objective on shares of Ulta Beauty from $510.00 to $600.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, Piper Sandler began coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They set an "overweight" rating and a $590.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Ulta Beauty has an average rating of "Moderate Buy" and an average target price of $549.33.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $542.93 on Tuesday. The firm's 50 day moving average price is $528.78 and its 200-day moving average price is $466.50. The company has a market cap of $24.34 billion, a PE ratio of 20.82, a P/E/G ratio of 3.02 and a beta of 1.08. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $572.23.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its 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. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.30 earnings per share. On average, analysts forecast that Ulta Beauty Inc. will post 23.96 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.

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