Congress Asset Management Co. Makes New Investment in Ulta Beauty Inc. $ULTA

Congress Asset Management Co. acquired a new stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,187 shares of the specialty retailer’s stock, valued at approximately $649,000.

Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new position in Ulta Beauty during the first quarter valued at $53,000. Synovus Financial Corp boosted its holdings in shares of Ulta Beauty by 52.3% during the 1st quarter. Synovus Financial Corp now owns 3,258 shares of the specialty retailer’s stock valued at $1,194,000 after purchasing an additional 1,119 shares during the last quarter. Freedom Investment Management Inc. grew its position in shares of Ulta Beauty by 10.7% during the first quarter. Freedom Investment Management Inc. now owns 675 shares of the specialty retailer’s stock valued at $247,000 after purchasing an additional 65 shares in the last quarter. Comerica Bank increased its holdings in shares of Ulta Beauty by 14.4% in the first quarter. Comerica Bank now owns 8,482 shares of the specialty retailer’s stock worth $3,109,000 after purchasing an additional 1,068 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Ulta Beauty by 145.6% in the first quarter. Ieq Capital LLC now owns 15,634 shares of the specialty retailer’s stock worth $5,730,000 after purchasing an additional 9,268 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Ulta Beauty from $530.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 29th. Telsey Advisory Group reiterated an “outperform” rating and set a $640.00 target price (up from $610.00) on shares of Ulta Beauty in a research report on Monday, December 1st. Evercore ISI raised their target price on shares of Ulta Beauty from $640.00 to $660.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Canaccord Genuity Group upped their price target on shares of Ulta Beauty from $653.00 to $674.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ulta Beauty from $600.00 to $606.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Sixteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $576.50.

Ulta Beauty Stock Down 1.4%

Shares of ULTA opened at $604.09 on Wednesday. The business has a fifty day moving average of $542.62 and a 200 day moving average of $520.43. The company has a market cap of $26.80 billion, a PE ratio of 23.16, a P/E/G ratio of 3.24 and a beta of 0.87. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $616.34.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, December 4th. The specialty retailer reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.53. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.70 billion. Ulta Beauty had a net margin of 9.93% and a return on equity of 46.33%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.14 earnings per share. Ulta Beauty has set its FY 2025 guidance at 25.200-25.500 EPS. As a group, research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

About Ulta Beauty

Ulta Beauty, Inc (NASDAQ: ULTA) is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer’s product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.