655 Shares in Ulta Beauty Inc. $ULTA Acquired by Allegiance Financial Group Advisory Services LLC

Key Points

• Allegiance Financial Group Advisory Services LLC acquired 655 shares of Ulta Beauty Inc. during the 2nd quarter, valued at approximately $306,000.
• Institutional investors now own 90.39% of Ulta Beauty's stock, with several firms significantly increasing their holdings in the first quarter.
• Ulta Beauty's recent earnings report showed an EPS of $5.78, exceeding analysts' expectations, and a revenue increase of 9.3% compared to the previous year.

Allegiance Financial Group Advisory Services LLC bought a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 655 shares of the specialty retailer's stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Ulta Beauty by 128.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock valued at $449,021,000 after buying an additional 688,267 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ulta Beauty by 81.7% in the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after purchasing an additional 410,900 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Ulta Beauty by 64.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after purchasing an additional 366,147 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Ulta Beauty by 5,117.0% in the 1st quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock worth $80,753,000 after purchasing an additional 216,089 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Ulta Beauty by 237.7% in the 1st quarter. AQR Capital Management LLC now owns 270,420 shares of the specialty retailer's stock worth $96,674,000 after purchasing an additional 190,353 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the company'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 completion of the sale, the director owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ULTA. Weiss Ratings reiterated a "hold (c)" rating on shares of Ulta Beauty in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a report on Friday, August 29th. Piper Sandler started coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 target price on the stock. Evercore ISI boosted their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, The Goldman Sachs Group boosted their target price on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a "buy" rating in a 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $549.21.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $565.81 on Thursday. The company has a market capitalization of $25.37 billion, a P/E ratio of 21.70, a P/E/G ratio of 3.07 and a beta of 1.08. The company's 50-day simple moving average is $526.47 and its two-hundred day simple moving average is $461.35. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping analysts' consensus estimates of $5.03 by $0.75. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.30 EPS. On average, research analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal 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.

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