Summitry LLC reduced its stake in Ulta Beauty Inc. (NASDAQ:ULTA – Free Report) by 26.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 149,403 shares of the specialty retailer’s stock after selling 53,462 shares during the quarter. Ulta Beauty makes up 2.8% of Summitry LLC’s investment portfolio, making the stock its 8th largest holding. Summitry LLC’s holdings in Ulta Beauty were worth $78,094,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ulta Beauty by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,376,848 shares of the specialty retailer’s stock valued at $3,253,047,000 after purchasing an additional 23,434 shares during the last quarter. State Street Corp raised its position in shares of Ulta Beauty by 2.5% in the fourth quarter. State Street Corp now owns 2,025,565 shares of the specialty retailer’s stock valued at $1,225,487,000 after purchasing an additional 50,305 shares during the period. Diamant Asset Management Inc. raised its position in shares of Ulta Beauty by 52,171.0% in the first quarter. Diamant Asset Management Inc. now owns 1,474,042 shares of the specialty retailer’s stock valued at $77,050,000 after purchasing an additional 1,471,222 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ulta Beauty by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,240,210 shares of the specialty retailer’s stock worth $747,587,000 after buying an additional 21,947 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Ulta Beauty by 0.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 974,223 shares of the specialty retailer’s stock worth $589,415,000 after buying an additional 2,463 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.
Ulta Beauty Trading Down 0.8%
NASDAQ:ULTA opened at $512.83 on Friday. The firm has a 50 day moving average of $477.49 and a 200-day moving average of $553.64. Ulta Beauty Inc. has a 1 year low of $443.60 and a 1 year high of $714.97. The stock has a market capitalization of $22.05 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88.
Analysts Set New Price Targets
A number of research firms recently issued reports on ULTA. UBS Group lowered their target price on shares of Ulta Beauty from $810.00 to $735.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Piper Sandler cut their target price on shares of Ulta Beauty from $725.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Bank of America upgraded Ulta Beauty from a “neutral” rating to a “buy” rating and set a $685.00 price target for the company in a report on Tuesday, May 5th. DA Davidson cut their price objective on shares of Ulta Beauty from $650.00 to $585.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Canaccord Genuity Group cut their target price on Ulta Beauty from $799.00 to $731.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $638.09.
Get Our Latest Stock Report on ULTA
Insiders Place Their Bets
In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 383 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $475.84, for a total value of $182,246.72. Following the completion of the transaction, the director directly owned 2,404 shares of the company’s stock, valued at approximately $1,143,919.36. The trade was a 13.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.
Ulta Beauty Company Profile
Ulta Beauty, Inc (NASDAQ: ULTA) is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.
The retailer’s product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.
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