Broadway Wealth Solutions Inc. Cuts Stock Position in Ulta Beauty Inc. $ULTA

Broadway Wealth Solutions Inc. lowered its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 731 shares of the specialty retailer’s stock after selling 49 shares during the period. Broadway Wealth Solutions Inc.’s holdings in Ulta Beauty were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust purchased a new position in Ulta Beauty in the first quarter worth $29,000. Wayfinding Financial LLC purchased a new position in Ulta Beauty in the first quarter worth $31,000. Rakuten Securities Inc. lifted its position in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 59 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 40 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Ulta Beauty during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ULTA shares. Argus raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price target on the stock in a research report on Thursday, September 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Morgan Stanley upped their price target on Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Jefferies Financial Group upped their price target on Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen lowered Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $544.20.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $546.75 on Wednesday. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $554.13. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 3.05 and a beta of 1.06. The business’s fifty day moving average is $521.01 and its 200 day moving average is $453.27.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results 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. 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 company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.30 EPS. Equities analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the transaction, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.