OMERS ADMINISTRATION Corp Acquires 1,443 Shares of Ulta Beauty Inc. $ULTA

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Ulta Beauty by 5.9% during the first quarter, owning 25,962 shares valued at approximately $9.5 million by the end of the quarter.
• Several analysts have upgraded their price targets for Ulta Beauty, with Morgan Stanley and Citigroup both raising their targets to $550, indicating a strong market confidence.
• Ulta Beauty reported a quarterly earnings per share (EPS) of $6.70, exceeding expectations, with revenues of $2.85 billion, marking a 4.5% increase from the previous year.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,962 shares of the specialty retailer's stock after acquiring an additional 1,443 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.06% of Ulta Beauty worth $9,516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULTA. American National Bank & Trust bought a new position in shares of Ulta Beauty during the 1st quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Ulta Beauty during the 1st quarter worth about $31,000. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Ulta Beauty during the 1st quarter worth about $37,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Stock Down 7.1%

Ulta Beauty stock traded down $37.90 during midday trading on Friday, hitting $492.73. 2,938,427 shares of the stock were exchanged, compared to its average volume of 676,046. The company has a fifty day simple moving average of $498.99 and a two-hundred day simple moving average of $427.13. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $538.59. The stock has a market capitalization of $22.15 billion, a PE ratio of 18.89, a P/E/G ratio of 2.96 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 49.73%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $5.30 EPS. Ulta Beauty's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ULTA. Canaccord Genuity Group set a $650.00 target price on shares of Ulta Beauty in a research report on Friday. Piper Sandler reiterated a "neutral" rating and set a $437.00 target price (up previously from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. DA Davidson increased their target price on shares of Ulta Beauty from $585.00 to $625.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Ulta Beauty from $525.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Finally, Cowen reiterated a "hold" rating on shares of Ulta Beauty in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $534.75.

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.