Pinebridge Investments L.P. increased its stake in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 98.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,947 shares of the specialty retailer’s stock after acquiring an additional 6,924 shares during the quarter. Pinebridge Investments L.P.’s holdings in Ulta Beauty were worth $4,838,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. NEXT Financial Group Inc lifted its position in shares of Ulta Beauty by 42.0% during the second quarter. NEXT Financial Group Inc now owns 98 shares of the specialty retailer’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. BancorpSouth Bank increased its holdings in Ulta Beauty by 2.6% during the second quarter. BancorpSouth Bank now owns 1,226 shares of the specialty retailer’s stock worth $426,000 after buying an additional 31 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Ulta Beauty by 79.2% during the second quarter. Commonwealth Bank of Australia now owns 86 shares of the specialty retailer’s stock worth $28,000 after buying an additional 38 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Ulta Beauty by 4.2% during the first quarter. Moors & Cabot Inc. now owns 972 shares of the specialty retailer’s stock worth $340,000 after buying an additional 39 shares during the last quarter. Finally, Altman Advisors Inc. increased its holdings in Ulta Beauty by 0.8% during the second quarter. Altman Advisors Inc. now owns 5,589 shares of the specialty retailer’s stock worth $1,939,000 after buying an additional 47 shares during the last quarter. 88.69% of the stock is currently owned by hedge funds and other institutional investors.
ULTA has been the subject of a number of research analyst reports. Deutsche Bank raised their price objective on shares of Ulta Beauty from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Monday, June 3rd. Oppenheimer reduced their target price on shares of Ulta Beauty from $390.00 to $310.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Guggenheim set a $325.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley downgraded shares of Ulta Beauty from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $395.00 to $275.00 in a research note on Friday, August 30th. Finally, BidaskClub downgraded shares of Ulta Beauty from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. Ulta Beauty currently has an average rating of “Hold” and a consensus price target of $303.10.
In related news, Director Sally E. Blount sold 315 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $359.28, for a total transaction of $113,173.20. Following the completion of the transaction, the director now owns 989 shares of the company’s stock, valued at $355,327.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.
NASDAQ:ULTA traded up $0.70 during mid-day trading on Friday, hitting $226.86. 1,064,866 shares of the stock traded hands, compared to its average volume of 2,441,650. The business’s 50-day moving average price is $307.66 and its 200 day moving average price is $333.05. The company has a market cap of $13.31 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. Ulta Beauty Inc has a 12-month low of $224.43 and a 12-month high of $368.83. The company has a quick ratio of 0.57, a current ratio of 1.80 and a debt-to-equity ratio of 0.92.
Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $2.76 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.03). The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Ulta Beauty had a net margin of 9.86% and a return on equity of 37.04%. Ulta Beauty’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. Analysts anticipate that Ulta Beauty Inc will post 11.81 earnings per share for the current fiscal year.
Ulta Beauty Company Profile
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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