Mediolanum International Funds Ltd Sells 6,514 Shares of Ulta Beauty Inc. $ULTA

Mediolanum International Funds Ltd lessened its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 37.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,092 shares of the specialty retailer’s stock after selling 6,514 shares during the period. Mediolanum International Funds Ltd’s holdings in Ulta Beauty were worth $5,083,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ULTA. Hemington Wealth Management increased its holdings in shares of Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 40 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Ulta Beauty during the first quarter worth $36,000. Costello Asset Management INC bought a new position in Ulta Beauty in the first quarter valued at $37,000. MTM Investment Management LLC bought a new position in Ulta Beauty in the second quarter valued at $47,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new position in shares of Ulta Beauty during the 2nd quarter worth about $52,000. 90.39% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $515.58 on Friday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23. The stock has a market capitalization of $23.12 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. The stock has a fifty day moving average of $530.13 and a 200-day moving average of $497.07.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share 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 analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.Ulta Beauty’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $5.30 earnings per share. On average, research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ULTA shares. Argus raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price target for the company in a research report on Thursday, September 25th. Morgan Stanley upped their target price on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Piper Sandler initiated coverage on Ulta Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $590.00 target price for the company. Wells Fargo & Company upped their target price on Ulta Beauty from $425.00 to $450.00 and gave the company an “underweight” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ulta Beauty in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ulta Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

Ulta Beauty Company 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.