Cadence Bank Acquires 305 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Cadence Bank boosted its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 24.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,553 shares of the specialty retailer’s stock after acquiring an additional 305 shares during the period. Cadence Bank’s holdings in Ulta Beauty were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in Ulta Beauty by 180,713.0% in the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after purchasing an additional 1,237,884 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Ulta Beauty in the third quarter worth about $359,480,000. TD Asset Management Inc increased its position in Ulta Beauty by 14.1% in the second quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock worth $239,545,000 after purchasing an additional 76,721 shares during the period. Champlain Investment Partners LLC increased its position in Ulta Beauty by 5.4% in the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after purchasing an additional 31,540 shares during the period. Finally, Alecta Tjanstepension Omsesidigt increased its position in Ulta Beauty by 14.4% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 516,405 shares of the specialty retailer’s stock worth $200,944,000 after purchasing an additional 65,000 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on ULTA shares. B. Riley started coverage on Ulta Beauty in a research report on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Citigroup reduced their target price on Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Barclays raised their target price on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, DA Davidson reduced their target price on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $420.71.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $375.25 on Thursday. The business’s 50 day simple moving average is $374.99 and its 200 day simple moving average is $376.68. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76. The firm has a market cap of $17.68 billion, a PE ratio of 15.06, a P/E/G ratio of 2.08 and a beta of 1.33.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the business posted $6.02 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Ulta Beauty, Inc. will post 23.07 EPS for the current 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.