Envestnet Asset Management Inc. reduced its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,224 shares of the specialty retailer’s stock after selling 12,056 shares during the period. Envestnet Asset Management Inc.’s holdings in Ulta Beauty were worth $27,965,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI acquired a new stake in Ulta Beauty during the 4th quarter valued at approximately $401,000. Commonwealth Equity Services LLC grew its position in shares of Ulta Beauty by 10.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the specialty retailer’s stock worth $7,859,000 after buying an additional 1,797 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Ulta Beauty by 2.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 30,457 shares of the specialty retailer’s stock worth $12,559,000 after buying an additional 664 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in Ulta Beauty in the fourth quarter valued at $3,389,000. Finally, CWM LLC bought a new position in Ulta Beauty during the 4th quarter valued at $353,000. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ULTA shares. Jefferies Financial Group raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and boosted their target price for the stock from $400.00 to $475.00 in a research report on Friday, May 27th. JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $460.00 to $480.00 in a report on Friday, May 27th. Robert W. Baird increased their target price on Ulta Beauty from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Friday, May 27th. Piper Sandler lifted their target price on Ulta Beauty from $465.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, May 27th. Finally, Raymond James raised shares of Ulta Beauty from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $475.00 to $485.00 in a report on Wednesday, June 29th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $460.05.
Ulta Beauty Price Performance
Shares of NASDAQ:ULTA opened at $394.28 on Tuesday. The stock’s 50 day moving average price is $396.17 and its 200 day moving average price is $387.50. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.82 and a beta of 1.45. Ulta Beauty, Inc. has a 12 month low of $330.80 and a 12 month high of $438.63.
Ulta Beauty (NASDAQ:ULTA – Get Rating) last posted its quarterly earnings data on Thursday, May 26th. The specialty retailer reported $6.30 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $1.86. Ulta Beauty had a return on equity of 60.83% and a net margin of 12.03%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the business earned $4.10 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty, Inc. will post 20.07 EPS for the current year.
Insider Transactions at Ulta Beauty
In related news, CFO Scott M. Settersten sold 32,532 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $426.63, for a total transaction of $13,879,127.16. Following the completion of the sale, the chief financial officer now directly owns 14,037 shares of the company’s stock, valued at $5,988,605.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 476 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $391.84, for a total transaction of $186,515.84. Following the completion of the sale, the director now directly owns 2,393 shares of the company’s stock, valued at $937,673.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott M. Settersten sold 32,532 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $426.63, for a total transaction of $13,879,127.16. Following the completion of the sale, the chief financial officer now owns 14,037 shares of the company’s stock, valued at approximately $5,988,605.31. The disclosure for this sale can be found here. Insiders have sold 46,207 shares of company stock valued at $19,411,502 in the last quarter. Insiders own 2.00% of the company’s stock.
Ulta Beauty Company Profile
Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company’s stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and nail services.
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