HB Wealth Management LLC Decreases Stock Holdings in Ulta Beauty Inc. $ULTA

HB Wealth Management LLC decreased its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 27.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 750 shares of the specialty retailer’s stock after selling 281 shares during the quarter. HB Wealth Management LLC’s holdings in Ulta Beauty were worth $351,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Ulta Beauty in the first quarter valued at $37,000. Procyon Advisors LLC raised its stake in shares of Ulta Beauty by 4.3% in the first quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer’s stock valued at $259,000 after acquiring an additional 29 shares during the period. Congress Asset Management Co. purchased a new stake in shares of Ulta Beauty in the first quarter valued at $357,000. Gateway Investment Advisers LLC raised its stake in shares of Ulta Beauty by 34.9% in the first quarter. Gateway Investment Advisers LLC now owns 2,649 shares of the specialty retailer’s stock valued at $971,000 after acquiring an additional 686 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Ulta Beauty by 15.8% in the first quarter. Park Avenue Securities LLC now owns 1,564 shares of the specialty retailer’s stock valued at $573,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director directly owned 2,263 shares in the company, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. Barclays increased their target price on shares of Ulta Beauty from $589.00 to $617.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Piper Sandler initiated coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They issued an “overweight” rating and a $590.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Finally, Morgan Stanley upped their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $544.20.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $566.91 on Tuesday. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $567.98. The stock has a market cap of $25.42 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.06 and a beta of 1.08. The firm’s 50-day moving average is $524.63 and its two-hundred day moving average is $459.95.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned $5.30 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

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.