Belpointe Asset Management LLC Reduces Stock Position in Ulta Beauty Inc. $ULTA

Belpointe Asset Management LLC cut its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 48.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the specialty retailer’s stock after selling 680 shares during the period. Belpointe Asset Management LLC’s holdings in Ulta Beauty were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $449,021,000 after acquiring an additional 688,267 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in 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 acquiring an additional 366,147 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock valued at $334,871,000 after acquiring an additional 410,900 shares during the last quarter. Invesco Ltd. lifted its holdings in Ulta Beauty by 10.9% in the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock valued at $298,231,000 after acquiring an additional 79,666 shares during the last quarter. Finally, Swedbank AB lifted its holdings in Ulta Beauty by 17.4% in the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock valued at $254,985,000 after acquiring an additional 80,734 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ULTA shares. Jefferies Financial Group upped their price objective on Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of Ulta Beauty in a research note on Wednesday. Piper Sandler initiated coverage on Ulta Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $590.00 price target on the stock. Evercore ISI upped their price target on 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 upped their price target on 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 assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $549.33.

Ulta Beauty Trading Down 2.1%

Shares of NASDAQ ULTA opened at $549.28 on Friday. The stock has a market cap of $24.63 billion, a P/E ratio of 21.06, a PEG ratio of 3.09 and a beta of 1.08. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $572.23. The business’s fifty day simple moving average is $528.22 and its 200-day simple moving average is $463.92.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data 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. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $5.30 earnings per share. On average, equities analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 500 shares of the stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company 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.