Ulta Beauty Inc. $ULTA Shares Sold by Sierra Legacy Group

Sierra Legacy Group trimmed its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,619 shares of the specialty retailer’s stock after selling 220 shares during the quarter. Sierra Legacy Group’s holdings in Ulta Beauty were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ULTA. Highview Capital Management LLC DE purchased a new stake in shares of Ulta Beauty during the second quarter worth about $1,617,000. Intrust Bank NA boosted its stake in Ulta Beauty by 20.6% in the 2nd quarter. Intrust Bank NA now owns 1,379 shares of the specialty retailer’s stock worth $645,000 after purchasing an additional 236 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Ulta Beauty by 4.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 23,500 shares of the specialty retailer’s stock worth $10,994,000 after purchasing an additional 972 shares in the last quarter. Symphony Financial Ltd. Co. purchased a new stake in Ulta Beauty during the 2nd quarter worth approximately $38,971,000. Finally, Westpac Banking Corp increased its stake in Ulta Beauty by 1,418.2% during the 2nd quarter. Westpac Banking Corp now owns 10,734 shares of the specialty retailer’s stock valued at $5,022,000 after purchasing an additional 10,027 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Ulta Beauty from $650.00 to $653.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. The Goldman Sachs Group lifted their price target on Ulta Beauty from $530.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Cowen reissued a “hold” rating on shares of Ulta Beauty in a report on Friday, August 29th. Bank of America lifted their target price on Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Finally, Robert W. Baird upped their target price on Ulta Beauty from $575.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $550.38.

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 shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Ulta Beauty Trading Down 0.4%

Shares of ULTA stock opened at $507.37 on Wednesday. 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 $22.75 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.80 and a beta of 1.05. The stock has a 50 day moving average of $530.98 and a 200 day moving average of $495.44.

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

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.