CIBC Asset Management Inc Trims Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

CIBC Asset Management Inc reduced its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 36.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,747 shares of the specialty retailer’s stock after selling 4,400 shares during the period. CIBC Asset Management Inc’s holdings in Ulta Beauty were worth $3,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares during the period. LRI Investments LLC bought a new position in shares of Ulta Beauty during the first quarter valued at approximately $31,000. Innealta Capital LLC purchased a new position in shares of Ulta Beauty during the second quarter valued at approximately $32,000. Paladin Wealth LLC bought a new stake in shares of Ulta Beauty in the 3rd quarter worth approximately $32,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Ulta Beauty in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Trading Down 3.2 %

NASDAQ ULTA opened at $353.35 on Tuesday. The stock has a market cap of $16.65 billion, a PE ratio of 14.18, a PEG ratio of 2.10 and a beta of 1.33. Ulta Beauty, Inc. has a 12 month low of $318.17 and a 12 month high of $574.76. The company’s 50-day moving average price is $379.50 and its 200-day moving average price is $378.71.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company earned $6.02 earnings per share. Ulta Beauty’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BMO Capital Markets set a $385.00 target price on Ulta Beauty in a report on Thursday, October 17th. Bank of America lowered their price target on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. B. Riley assumed coverage on shares of Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price for the company. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, TD Cowen lowered their target price on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Ulta Beauty currently has an average rating of “Hold” and a consensus target price of $420.71.

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.