Ulta Beauty Inc. (NASDAQ:ULTA) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ulta Beauty by 11.8% during the 1st quarter, owning 11,774 shares valued at approximately $4.3 million.
• Ulta Beauty reported an earnings per share (EPS) of $6.70, exceeding estimates of $5.73, with quarterly revenue reaching $2.85 billion, above the $2.79 billion forecast.
• Several brokerages have updated their target prices for Ulta Beauty, with Morgan Stanley raising it from $460 to $550 and Robert W. Baird increasing it to $525, suggesting positive analyst sentiment around the stock.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,774 shares of the specialty retailer's stock after buying an additional 1,243 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Ulta Beauty were worth $4,316,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 11,205 shares during the last quarter. Capital World Investors acquired a new position in shares of Ulta Beauty in the 4th quarter valued at $430,674,000. Deutsche Bank AG increased its holdings in shares of Ulta Beauty by 1.4% in the 4th quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock valued at $285,123,000 after acquiring an additional 9,291 shares during the period. Northern Trust Corp increased its holdings in shares of Ulta Beauty by 14.7% in the 4th quarter. Northern Trust Corp now owns 562,155 shares of the specialty retailer's stock valued at $244,498,000 after acquiring an additional 72,004 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Ulta Beauty by 3.9% in the 1st quarter. TD Asset Management Inc now owns 536,169 shares of the specialty retailer's stock valued at $196,527,000 after acquiring an additional 20,124 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $515.01 on Friday. The firm has a market capitalization of $23.15 billion, a P/E ratio of 20.12, a PEG ratio of 3.13 and a beta of 1.08. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $523.68. The company's fifty day moving average is $473.18 and its two-hundred day moving average is $410.77.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.47 EPS. On average, sell-side analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ULTA. Piper Sandler reaffirmed a "neutral" rating and issued a $437.00 target price (up from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Robert W. Baird lifted their target price on shares of Ulta Beauty from $440.00 to $525.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $520.00 target price on shares of Ulta Beauty in a report on Friday, July 11th. Finally, Loop Capital reaffirmed a "hold" rating and issued a $510.00 target price on shares of Ulta Beauty in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty presently has an average rating of "Hold" and a consensus target price of $466.57.

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.

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