J. Safra Sarasin Holding AG Lowers Stake in Ulta Beauty Inc. (NASDAQ:ULTA)

J. Safra Sarasin Holding AG reduced its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,685 shares of the specialty retailer’s stock after selling 185 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ulta Beauty were worth $618,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ULTA. American National Bank & Trust acquired a new stake in shares of Ulta Beauty in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new stake in shares of Ulta Beauty in the first quarter valued at about $31,000. Rakuten Securities Inc. grew its position in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 59 shares during the period. North Star Investment Management Corp. grew its position in shares of Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 40 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Ulta Beauty in the first quarter valued at about $37,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ULTA has been the topic of several research analyst reports. Truist Financial lifted their target price on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Oppenheimer boosted their price target on shares of Ulta Beauty from $465.00 to $510.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Piper Sandler restated a “neutral” rating and set a $437.00 price target (up from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. Citigroup boosted their price target on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $477.00 to $525.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Ulta Beauty presently has an average rating of “Hold” and a consensus target price of $469.09.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $514.99 on Tuesday. The company’s 50 day simple moving average is $477.35 and its 200-day simple moving average is $412.27. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 3.07 and a beta of 1.12. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $523.68.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.47 EPS. Equities analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current 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.