Eagle Ridge Investment Management Grows Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Eagle Ridge Investment Management increased its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.0% in the third quarter, Holdings Channel.com reports. The fund owned 61,345 shares of the specialty retailer’s stock after purchasing an additional 608 shares during the period. Ulta Beauty comprises about 2.1% of Eagle Ridge Investment Management’s holdings, making the stock its 19th biggest position. Eagle Ridge Investment Management’s holdings in Ulta Beauty were worth $23,871,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ULTA. International Assets Investment Management LLC lifted its stake in Ulta Beauty by 180,713.0% in the 3rd 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 in the last quarter. Hsbc Holdings PLC lifted its position in shares of Ulta Beauty by 87.3% in the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after buying an additional 157,497 shares in the last quarter. Boston Partners boosted its stake in Ulta Beauty by 47.7% during the first quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock valued at $246,862,000 after buying an additional 153,727 shares during the last quarter. TD Asset Management Inc grew its holdings in Ulta Beauty by 33.6% during the 1st quarter. TD Asset Management Inc now owns 544,072 shares of the specialty retailer’s stock valued at $284,484,000 after buying an additional 136,725 shares in the last quarter. Finally, Swedbank AB increased its stake in Ulta Beauty by 107.0% in the 2nd quarter. Swedbank AB now owns 240,191 shares of the specialty retailer’s stock worth $92,683,000 after acquiring an additional 124,164 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $367.18 on Friday. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.10 and a beta of 1.32. The firm has a 50-day moving average of $376.31 and a two-hundred day moving average of $384.77. Ulta Beauty, Inc. has a 1 year low of $318.17 and a 1 year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly 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). The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.02 EPS. Research analysts expect that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Ulta Beauty from $385.00 to $395.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Piper Sandler upped their price target on shares of Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Raymond James dropped their price objective on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, 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 target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Ulta Beauty has an average rating of “Hold” and a consensus target price of $420.71.

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.