Beacon Investment Advisory Services Inc. grew its holdings in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 17.3% during the second quarter, Holdings Channel reports. The institutional investor owned 42,352 shares of the specialty retailer’s stock after buying an additional 6,239 shares during the period. Ulta Beauty accounts for 1.0% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 28th largest position. Beacon Investment Advisory Services Inc.’s holdings in Ulta Beauty were worth $9,887,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of Ulta Beauty by 120.0% during the second quarter. Huntington National Bank now owns 440 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 240 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Ulta Beauty during the second quarter valued at approximately $151,000. Dupont Capital Management Corp bought a new position in shares of Ulta Beauty during the second quarter valued at approximately $162,000. Optimum Investment Advisors bought a new position in shares of Ulta Beauty during the first quarter valued at approximately $163,000. Finally, Capital One National Association bought a new position in shares of Ulta Beauty during the second quarter valued at approximately $205,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ULTA opened at $239.32 on Tuesday. Ulta Beauty Inc has a 52-week low of $187.96 and a 52-week high of $261.40. The company has a market capitalization of $14.23 billion, a P/E ratio of 29.33, a PEG ratio of 1.17 and a beta of 0.72.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, May 31st. The specialty retailer reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.22. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Ulta Beauty had a return on equity of 32.15% and a net margin of 9.67%. Ulta Beauty’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. analysts expect that Ulta Beauty Inc will post 10.84 EPS for the current year.
ULTA has been the topic of a number of analyst reports. Zacks Investment Research cut Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub raised Ulta Beauty from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 26th. Buckingham Research upped their target price on Ulta Beauty from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Piper Jaffray Companies upped their target price on Ulta Beauty to $268.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. Finally, Loop Capital reaffirmed a “hold” rating and set a $250.00 target price on shares of Ulta Beauty in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $264.44.
In other Ulta Beauty news, CFO Scott M. Settersten sold 7,032 shares of the stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $253.09, for a total transaction of $1,779,728.88. Following the sale, the chief financial officer now owns 9,380 shares of the company’s stock, valued at approximately $2,373,984.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Catherine Ann Halligan sold 400 shares of the stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $252.44, for a total value of $100,976.00. Following the sale, the director now directly owns 3,188 shares in the company, valued at approximately $804,778.72. The disclosure for this sale can be found here. Insiders have sold a total of 80,432 shares of company stock worth $20,206,877 in the last ninety days. Insiders own 5.60% of the company’s stock.
About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.
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