Kingsview Wealth Management LLC Sells 116 Shares of Ulta Beauty Inc. $ULTA

Kingsview Wealth Management LLC lowered its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 3.5% in the second quarter, Holdings Channel reports. The institutional investor owned 3,154 shares of the specialty retailer’s stock after selling 116 shares during the period. Kingsview Wealth Management LLC’s holdings in Ulta Beauty were worth $1,476,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Ulta Beauty by 4.9% in the 1st quarter. Private Advisor Group LLC now owns 10,554 shares of the specialty retailer’s stock worth $3,868,000 after purchasing an additional 491 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Ulta Beauty by 119.3% during the first quarter. Lindbrook Capital LLC now owns 533 shares of the specialty retailer’s stock worth $195,000 after purchasing an additional 290 shares during the period. Choreo LLC raised its position in shares of Ulta Beauty by 5.9% in the first quarter. Choreo LLC now owns 2,668 shares of the specialty retailer’s stock valued at $978,000 after buying an additional 148 shares in the last quarter. Guidance Capital Inc. boosted its stake in shares of Ulta Beauty by 4.4% in the first quarter. Guidance Capital Inc. now owns 1,294 shares of the specialty retailer’s stock valued at $512,000 after buying an additional 54 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ulta Beauty in the first quarter valued at approximately $325,000. Institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the firm’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 value of $264,215.00. Following the sale, the director owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ULTA has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on Ulta Beauty from $530.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 29th. Loop Capital restated a “hold” rating and issued a $510.00 price target on shares of Ulta Beauty in a research report on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. UBS Group increased their price objective on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Robert W. Baird boosted their target price on shares of Ulta Beauty from $575.00 to $600.00 and gave the company an “outperform” rating in a research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Ulta Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

Ulta Beauty Stock Down 2.0%

NASDAQ:ULTA opened at $497.41 on Thursday. The stock’s 50-day simple moving average is $530.62 and its 200 day simple moving average is $495.46. The firm has a market capitalization of $22.30 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $572.23.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.30 earnings per share. On average, analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

About Ulta Beauty

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.