Mackenzie Financial Corp Trims Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Mackenzie Financial Corp lessened its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTAGet Rating) by 43.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,870 shares of the specialty retailer’s stock after selling 2,955 shares during the quarter. Mackenzie Financial Corp’s holdings in Ulta Beauty were worth $1,492,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ULTA. Wellington Management Group LLP lifted its position in Ulta Beauty by 43.1% in the 1st quarter. Wellington Management Group LLP now owns 2,276,111 shares of the specialty retailer’s stock worth $906,392,000 after buying an additional 685,026 shares during the last quarter. Victory Capital Management Inc. lifted its position in Ulta Beauty by 684.9% in the 1st quarter. Victory Capital Management Inc. now owns 304,634 shares of the specialty retailer’s stock worth $121,248,000 after buying an additional 265,822 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Ulta Beauty in the 1st quarter worth approximately $69,399,000. National Bank of Canada FI lifted its position in Ulta Beauty by 16,645.2% in the 1st quarter. National Bank of Canada FI now owns 162,931 shares of the specialty retailer’s stock worth $64,883,000 after buying an additional 161,958 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Ulta Beauty by 891.1% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 176,543 shares of the specialty retailer’s stock worth $68,054,000 after buying an additional 158,731 shares during the last quarter. Institutional investors own 89.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Anita Jane Ryan sold 594 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $440.53, for a total value of $261,674.82. Following the sale, the insider now directly owns 2,482 shares of the company’s stock, valued at $1,093,395.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Catherine Ann Halligan sold 276 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $445.86, for a total value of $123,057.36. Following the sale, the director now directly owns 2,168 shares of the company’s stock, valued at $966,624.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anita Jane Ryan sold 594 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $440.53, for a total value of $261,674.82. Following the completion of the sale, the insider now directly owns 2,482 shares in the company, valued at $1,093,395.46. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Credit Suisse Group boosted their target price on Ulta Beauty from $455.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th. The Goldman Sachs Group boosted their target price on Ulta Beauty from $427.00 to $491.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Ulta Beauty from $548.00 to $563.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Cowen boosted their price objective on Ulta Beauty from $480.00 to $503.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Finally, Cowen boosted their price objective on Ulta Beauty from $480.00 to $503.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ulta Beauty presently has an average rating of “Moderate Buy” and an average target price of $485.71.

Ulta Beauty Stock Performance

ULTA opened at $450.04 on Wednesday. Ulta Beauty, Inc. has a 52-week low of $330.80 and a 52-week high of $451.30. The stock has a market capitalization of $23.05 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.32. The stock’s 50 day moving average price is $409.60 and its 200-day moving average price is $401.74.

Ulta Beauty (NASDAQ:ULTAGet Rating) last posted its earnings results on Thursday, August 25th. The specialty retailer reported $5.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.96 by $0.74. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Ulta Beauty had a return on equity of 64.33% and a net margin of 12.08%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.56 earnings per share. Research analysts forecast that Ulta Beauty, Inc. will post 21.21 EPS for the current fiscal year.

About Ulta Beauty

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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