Convergence Financial LLC Buys 979 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Convergence Financial LLC raised its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 55.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,755 shares of the specialty retailer’s stock after purchasing an additional 979 shares during the period. Convergence Financial LLC’s holdings in Ulta Beauty were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ULTA. Choreo LLC grew its position in shares of Ulta Beauty by 71.7% in the 2nd 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 during the last quarter. Duality Advisers LP boosted its stake in Ulta Beauty by 92.8% in the first quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock valued at $3,806,000 after acquiring an additional 3,504 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ulta Beauty by 10.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,799 shares of the specialty retailer’s stock worth $46,954,000 after purchasing an additional 8,337 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ulta Beauty during the 2nd quarter valued at $19,136,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings 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 valued at $1,072,000 after purchasing an additional 139 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ULTA. TD Cowen dropped their target price on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. UBS Group cut their price objective on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of Ulta Beauty from $450.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Stifel Nicolaus lifted their target price on shares of Ulta Beauty from $385.00 to $395.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Loop Capital cut their price target on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $420.71.

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $373.30 on Friday. The company has a 50 day moving average price of $376.34 and a 200-day moving average price of $384.65. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.10 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share 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 quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.02 EPS. On average, sell-side analysts anticipate that Ulta Beauty, Inc. will post 23.07 earnings per share for the current fiscal year.

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.