Envestnet Asset Management Inc. Grows Stock Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

Envestnet Asset Management Inc. lifted its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 2.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 50,987 shares of the specialty retailer’s stock after purchasing an additional 1,149 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Ulta Beauty worth $18,689,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Capital World Investors acquired a new position in Ulta Beauty during the 4th quarter valued at approximately $430,674,000. Norges Bank purchased a new position in shares of Ulta Beauty in the fourth quarter worth about $239,432,000. Marshall Wace LLP lifted its stake in shares of Ulta Beauty by 10,336.7% in the fourth quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after buying an additional 454,711 shares in the last quarter. GAMMA Investing LLC increased its position in Ulta Beauty by 38,770.6% during the first quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer’s stock worth $162,565,000 after purchasing an additional 442,372 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ulta Beauty during the fourth quarter valued at about $73,780,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and issued a $500.00 price objective (up previously from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. UBS Group lifted their price objective on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a “buy” rating in a report on Friday, May 30th. Oppenheimer lifted their price objective on shares of Ulta Beauty from $465.00 to $510.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Robert W. Baird lifted their price objective on shares of Ulta Beauty from $440.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating in a research note on Saturday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $465.04.

Ulta Beauty Trading Up 2.4%

Shares of NASDAQ:ULTA opened at $485.08 on Thursday. The company has a market capitalization of $21.80 billion, a PE ratio of 18.95, a P/E/G ratio of 2.87 and a beta of 1.08. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $498.52. The firm has a 50 day simple moving average of $451.10 and a 200-day simple moving average of $404.51.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.47 EPS. As a group, equities research analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

About Ulta Beauty

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.