M&T Bank Corp Lowers Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

M&T Bank Corp trimmed its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,337 shares of the specialty retailer’s stock after selling 50 shares during the period. M&T Bank Corp’s holdings in Ulta Beauty were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Choreo LLC boosted its holdings in Ulta Beauty by 71.7% during the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after buying an additional 1,198 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ulta Beauty during the 2nd quarter worth approximately $19,136,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Ulta Beauty by 5.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,778 shares of the specialty retailer’s stock worth $1,072,000 after acquiring an additional 139 shares in the last quarter. Jensen Investment Management Inc. grew its holdings in shares of Ulta Beauty by 17.9% in the 3rd quarter. Jensen Investment Management Inc. now owns 11,330 shares of the specialty retailer’s stock worth $4,409,000 after acquiring an additional 1,720 shares during the period. Finally, Distillate Capital Partners LLC purchased a new position in Ulta Beauty in the 2nd quarter valued at approximately $14,665,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ULTA. 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 report on Tuesday, December 3rd. UBS Group boosted their price objective on shares of Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays raised their target price on shares of Ulta Beauty from $335.00 to $410.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Citigroup lifted their target price on shares of Ulta Beauty from $390.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on shares of Ulta Beauty from $300.00 to $350.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $439.30.

Ulta Beauty Stock Performance

ULTA opened at $424.11 on Monday. Ulta Beauty, Inc. has a 1 year low of $318.17 and a 1 year high of $574.76. The company’s 50 day simple moving average is $378.38 and its 200 day simple moving average is $378.10. The stock has a market capitalization of $19.67 billion, a PE ratio of 16.97, a P/E/G ratio of 2.38 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. Ulta Beauty’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $5.07 EPS. As a group, sell-side analysts expect that Ulta Beauty, Inc. will post 23.57 earnings per share for the current fiscal year.

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.