Asset Management One Co. Ltd. Sells 531 Shares of Ulta Beauty Inc. $ULTA

Asset Management One Co. Ltd. reduced its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,517 shares of the specialty retailer’s stock after selling 531 shares during the period. Asset Management One Co. Ltd.’s holdings in Ulta Beauty were worth $9,130,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

ULTA has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $590.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Loop Capital restated a “hold” rating and set a $510.00 price objective on shares of Ulta Beauty in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Ulta Beauty from $425.00 to $450.00 and gave the company an “underweight” rating in a research note on Thursday, October 16th. Finally, Barclays raised their price target on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ulta Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

Insider Activity at Ulta Beauty

In other Ulta Beauty 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 completion of the sale, the director owned 2,263 shares of the company’s stock, valued at $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company’s stock.

Ulta Beauty Price Performance

ULTA stock opened at $522.82 on Tuesday. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $572.23. The firm has a fifty day moving average price of $531.62 and a two-hundred day moving average price of $478.45. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.85 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last announced 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. 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $5.30 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal 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.