Envestnet Asset Management Inc. Grows Stock Position in Ulta Beauty Inc. $ULTA

Envestnet Asset Management Inc. boosted its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,146 shares of the specialty retailer’s stock after acquiring an additional 7,159 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Ulta Beauty worth $27,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ORG Partners LLC boosted its holdings in Ulta Beauty by 17.7% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the specialty retailer’s stock worth $72,000 after acquiring an additional 23 shares during the period. Chesley Taft & Associates LLC boosted its holdings in Ulta Beauty by 3.0% in the 2nd quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer’s stock worth $390,000 after acquiring an additional 24 shares during the period. OFI Invest Asset Management boosted its holdings in Ulta Beauty by 6.8% in the 2nd quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer’s stock worth $175,000 after acquiring an additional 24 shares during the period. Wambolt & Associates LLC boosted its holdings in Ulta Beauty by 1.6% in the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer’s stock worth $626,000 after acquiring an additional 26 shares during the period. Finally, CX Institutional boosted its holdings in Ulta Beauty by 8.2% in the 2nd quarter. CX Institutional now owns 424 shares of the specialty retailer’s stock worth $198,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ULTA shares. Morgan Stanley upped their target price on Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Wall Street Zen lowered Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Loop Capital reaffirmed a “hold” rating and issued a $510.00 target price on shares of Ulta Beauty in a research report on Friday, July 25th. Citigroup upped their target price on Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company upped their target price on Ulta Beauty from $425.00 to $450.00 and gave the company an “underweight” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $550.38.

Ulta Beauty Trading Down 0.5%

ULTA stock opened at $517.43 on Tuesday. The firm has a market cap of $23.20 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.86 and a beta of 1.05. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $572.23. The stock’s 50 day simple moving average is $530.91 and its 200 day simple moving average is $484.81.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $0.75. The business 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 business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.30 EPS. On average, research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insider Activity

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

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.