Ulta Beauty Inc. $ULTA Position Reduced by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 27.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,089 shares of the specialty retailer’s stock after selling 3,116 shares during the period. Griffin Asset Management Inc.’s holdings in Ulta Beauty were worth $3,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MGO One Seven LLC raised its holdings in Ulta Beauty by 11.9% during the second quarter. MGO One Seven LLC now owns 1,587 shares of the specialty retailer’s stock worth $742,000 after purchasing an additional 169 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Ulta Beauty by 11.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 152,376 shares of the specialty retailer’s stock valued at $72,141,000 after buying an additional 16,032 shares in the last quarter. CWM LLC increased its holdings in shares of Ulta Beauty by 53.2% in the second quarter. CWM LLC now owns 20,126 shares of the specialty retailer’s stock valued at $9,416,000 after buying an additional 6,993 shares in the last quarter. OFI Invest Asset Management increased its holdings in shares of Ulta Beauty by 6.8% in the second quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer’s stock valued at $175,000 after buying an additional 24 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ulta Beauty by 36.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,380 shares of the specialty retailer’s stock valued at $3,921,000 after buying an additional 2,242 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $549.28 on Monday. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $572.23. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 3.02 and a beta of 1.08. The firm’s 50 day moving average price is $528.22 and its two-hundred day moving average price is $465.22.

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

Insider Activity at Ulta Beauty

In other 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 transaction of $264,215.00. Following the transaction, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. The trade was a 18.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on ULTA shares. 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 report on Tuesday, August 26th. Loop Capital reaffirmed a “hold” rating and issued a $510.00 price target on shares of Ulta Beauty in a report on Friday, July 25th. Oppenheimer upped their price target on Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Wells Fargo & Company upped their price target on Ulta Beauty from $400.00 to $425.00 and gave the company an “underweight” rating in a report on Friday, August 29th. Finally, UBS Group upped their price target on Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a report on Friday, August 29th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $549.33.

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.