True Wealth Design LLC Has $110,000 Stock Position in Ulta Beauty Inc. $ULTA

True Wealth Design LLC raised its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 1,205.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 235 shares of the specialty retailer’s stock after purchasing an additional 217 shares during the quarter. True Wealth Design LLC’s holdings in Ulta Beauty were worth $110,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ULTA. AE Wealth Management LLC acquired a new stake in shares of Ulta Beauty during the second quarter worth $284,000. Fox Run Management L.L.C. acquired a new position in Ulta Beauty in the second quarter valued at $357,000. Savant Capital LLC boosted its position in Ulta Beauty by 226.4% during the second quarter. Savant Capital LLC now owns 16,093 shares of the specialty retailer’s stock valued at $7,528,000 after acquiring an additional 11,162 shares during the last quarter. Twin Capital Management Inc. grew its holdings in Ulta Beauty by 3.1% during the 2nd quarter. Twin Capital Management Inc. now owns 3,422 shares of the specialty retailer’s stock worth $1,601,000 after acquiring an additional 104 shares during the period. Finally, SouthState Corp grew its holdings in Ulta Beauty by 6.3% during the 2nd quarter. SouthState Corp now owns 9,180 shares of the specialty retailer’s stock worth $4,295,000 after acquiring an additional 540 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ULTA shares. Cowen reissued a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. Piper Sandler assumed coverage on Ulta Beauty in a report on Thursday, September 4th. They set an “overweight” rating and a $590.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ulta Beauty in a research note on Wednesday, October 8th. Finally, Loop Capital reiterated a “hold” rating and issued a $510.00 price objective on shares of Ulta Beauty in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ulta Beauty has a consensus rating of “Moderate Buy” and an average price target of $550.38.

Insider Buying and Selling at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were 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 approximately $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Ulta Beauty Stock Up 1.6%

Shares of ULTA opened at $517.79 on Friday. The business’s fifty day moving average is $530.57 and its 200 day moving average is $487.40. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $572.23. The stock has a market cap of $23.22 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.80 and a beta of 1.05.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted $5.30 EPS. Ulta Beauty’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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.