Cresset Asset Management LLC Trims Holdings in Ulta Beauty Inc. $ULTA

Cresset Asset Management LLC trimmed its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 36.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,240 shares of the specialty retailer’s stock after selling 704 shares during the quarter. Cresset Asset Management LLC’s holdings in Ulta Beauty were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Ulta Beauty by 36.4% during the 1st quarter. American Century Companies Inc. now owns 116,383 shares of the specialty retailer’s stock valued at $42,659,000 after buying an additional 31,049 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Ulta Beauty during the 1st quarter valued at approximately $10,268,000. Aberdeen Group plc grew its holdings in Ulta Beauty by 89.0% during the 1st quarter. Aberdeen Group plc now owns 33,851 shares of the specialty retailer’s stock valued at $12,232,000 after buying an additional 15,943 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ulta Beauty by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 481,698 shares of the specialty retailer’s stock valued at $176,529,000 after buying an additional 15,114 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in Ulta Beauty by 37.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 1,348 shares of the specialty retailer’s stock valued at $494,000 after buying an additional 367 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Stock Up 1.8%

Shares of ULTA opened at $529.50 on Monday. The company has a market cap of $23.80 billion, a PE ratio of 20.68, a P/E/G ratio of 3.19 and a beta of 1.12. The business has a fifty day moving average of $494.13 and a 200 day moving average of $422.37. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $534.10.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%.Ulta Beauty’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $6.47 earnings per share. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. As a group, research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Piper Sandler reaffirmed a “neutral” rating and set a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Truist Financial increased their price objective on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Barclays raised shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $518.00 to $589.00 in a report on Friday. Finally, Morgan Stanley increased their target price on Ulta Beauty from $460.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $487.96.

Ulta Beauty 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.