Retirement Systems of Alabama Lowers Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Retirement Systems of Alabama cut its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,209 shares of the specialty retailer’s stock after selling 365 shares during the quarter. Retirement Systems of Alabama’s holdings in Ulta Beauty were worth $3,973,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at about $32,000. Paladin Wealth LLC purchased a new position in shares of Ulta Beauty in the 3rd quarter worth approximately $32,000. Westside Investment Management Inc. raised its stake in shares of Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on ULTA shares. Loop Capital lifted their price target on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on Ulta Beauty from $357.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. TD Cowen decreased their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Barclays raised their price target on Ulta Beauty from $335.00 to $410.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $439.30.

Ulta Beauty Trading Up 2.1 %

Shares of NASDAQ:ULTA opened at $425.52 on Friday. The company has a market capitalization of $19.73 billion, a PE ratio of 17.03, a PEG ratio of 2.38 and a beta of 1.32. Ulta Beauty, Inc. has a 12-month low of $318.17 and a 12-month high of $574.76. The business has a 50 day moving average of $383.13 and a two-hundred day moving average of $379.16.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.07 earnings per share. Equities research analysts predict that Ulta Beauty, Inc. will post 23.57 earnings per share for the current fiscal year.

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.