Ulta Beauty Inc. $ULTA Stake Cut by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 81.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 773 shares of the specialty retailer’s stock after selling 3,338 shares during the period. Wellington Management Group LLP’s holdings in Ulta Beauty were worth $283,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ULTA. American National Bank & Trust acquired a new position in Ulta Beauty in the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new position in Ulta Beauty in the 1st quarter worth about $31,000. Rakuten Securities Inc. increased its position in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 59 shares during the last quarter. North Star Investment Management Corp. increased its position in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 40 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in Ulta Beauty in the 1st quarter worth about $37,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Wall Street Zen raised Ulta Beauty from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Piper Sandler reissued a “neutral” rating and set a $437.00 price objective (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Jefferies Financial Group increased their price objective on Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a report on Tuesday, August 26th. Finally, The Goldman Sachs Group increased their price objective on Ulta Beauty from $530.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 29th. Thirteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $536.75.

Ulta Beauty Stock Up 8.1%

ULTA opened at $532.52 on Wednesday. The firm has a market capitalization of $23.88 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.88 and a beta of 1.06. The stock’s 50 day moving average price is $500.78 and its two-hundred day moving average price is $429.22. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $538.59.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $5.30 EPS. As a group, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current 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.