FSM Wealth Advisors LLC Acquires New Stake in Ulta Beauty Inc. $ULTA

FSM Wealth Advisors LLC bought a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 481 shares of the specialty retailer’s stock, valued at approximately $229,000.

Several other institutional investors also recently bought and sold shares of ULTA. Price T Rowe Associates Inc. MD increased its stake in Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock worth $449,021,000 after purchasing an additional 688,267 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Ulta Beauty by 64.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer’s stock worth $341,453,000 after buying an additional 366,147 shares during the period. JPMorgan Chase & Co. increased its stake in Ulta Beauty by 81.7% during the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock worth $334,871,000 after buying an additional 410,900 shares during the period. Invesco Ltd. lifted its holdings in Ulta Beauty by 10.9% during the 1st quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock worth $298,231,000 after buying an additional 79,666 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Ulta Beauty by 17.4% in the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock worth $254,985,000 after acquiring an additional 80,734 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 1.0%

Shares of ULTA opened at $524.48 on Friday. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.86 and a beta of 1.08. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $572.23. The stock has a 50 day moving average price of $531.57 and a 200 day moving average price of $474.21.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, topping 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 company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company earned $5.30 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mike C. Smith sold 500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the sale, the director directly owned 2,263 shares of the company’s stock, valued at $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ULTA has been the topic of several analyst reports. Piper Sandler began coverage on Ulta Beauty in a research note on Thursday, September 4th. They issued an “overweight” rating and a $590.00 price objective on the stock. Canaccord Genuity Group increased their price target on Ulta Beauty from $650.00 to $653.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Morgan Stanley lifted their price objective on Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Evercore ISI upped their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Bank of America lifted their price target on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $550.38.

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.