iA Global Asset Management Inc. Invests $3.09 Million in Ulta Beauty Inc. $ULTA

iA Global Asset Management Inc. acquired a new position in Ulta Beauty Inc. (NASDAQ:ULTA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,608 shares of the specialty retailer’s stock, valued at approximately $3,091,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC raised its stake in shares of Ulta Beauty by 17.7% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the specialty retailer’s stock worth $72,000 after buying an additional 23 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Ulta Beauty by 3.0% in the 2nd quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer’s stock worth $390,000 after buying an additional 24 shares in the last quarter. OFI Invest Asset Management raised its stake in shares of Ulta Beauty by 6.8% in the 2nd quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer’s stock worth $175,000 after buying an additional 24 shares in the last quarter. Wambolt & Associates LLC raised its stake in shares of Ulta Beauty by 1.6% in the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer’s stock worth $626,000 after buying an additional 26 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Ulta Beauty by 8.2% in the 2nd quarter. CX Institutional now owns 424 shares of the specialty retailer’s stock worth $198,000 after buying an additional 32 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Trading Up 2.0%

NASDAQ:ULTA opened at $519.88 on Monday. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.86 and a beta of 1.05. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $572.23. The business’s fifty day moving average price is $531.05 and its 200 day moving average price is $483.68.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.Ulta Beauty’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.30 earnings per share. Equities analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the transaction, the director directly owned 2,263 shares of the company’s stock, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ULTA. Jefferies Financial Group lifted their target price on Ulta Beauty from $425.00 to $550.00 and gave the stock a “hold” rating in a report on Tuesday, August 26th. Piper Sandler began coverage on Ulta Beauty in a report on Thursday, September 4th. They issued an “overweight” rating and a $590.00 target price on the stock. Robert W. Baird lifted their target price on Ulta Beauty from $575.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Raymond James Financial restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. Finally, DA Davidson lifted their target price on Ulta Beauty from $585.00 to $625.00 and gave the stock a “buy” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.38.

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.