M&T Bank Corp Cuts Holdings in Ulta Beauty Inc (ULTA)
M&T Bank Corp lowered its position in Ulta Beauty Inc (NASDAQ:ULTA) by 8.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,881 shares of the specialty retailer’s stock after selling 2,380 shares during the period. M&T Bank Corp’s holdings in Ulta Beauty were worth $5,789,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Ulta Beauty by 58.3% in the third quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock worth $314,378,000 after buying an additional 512,315 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Ulta Beauty by 12.1% during the fourth quarter. Jennison Associates LLC now owns 721,677 shares of the specialty retailer’s stock valued at $161,410,000 after purchasing an additional 77,742 shares during the period. CI Global Investments Inc. purchased a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $135,756,000. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Ulta Beauty by 173.8% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 527,993 shares of the specialty retailer’s stock valued at $119,358,000 after purchasing an additional 335,148 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Ulta Beauty by 162.7% during the third quarter. Russell Investments Group Ltd. now owns 482,329 shares of the specialty retailer’s stock valued at $109,033,000 after purchasing an additional 298,725 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.
ULTA has been the subject of a number of analyst reports. Buckingham Research reissued a “buy” rating on shares of Ulta Beauty in a research note on Tuesday, January 23rd. Cowen set a $336.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research note on Friday, October 20th. Loop Capital set a $300.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research note on Sunday, December 3rd. Wells Fargo & Co set a $297.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Vetr raised Ulta Beauty from a “buy” rating to a “strong-buy” rating and set a $254.50 price objective for the company in a research note on Friday, December 1st. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $262.91.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, November 30th. The specialty retailer reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.03. Ulta Beauty had a return on equity of 29.64% and a net margin of 8.82%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. analysts predict that Ulta Beauty Inc will post 8.35 earnings per share for the current fiscal year.
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Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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