Congress Asset Management Co. Takes Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Congress Asset Management Co. bought a new position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 973 shares of the specialty retailer's stock, valued at approximately $357,000.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Ulta Beauty by 28.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 166 shares of the specialty retailer's stock valued at $72,000 after acquiring an additional 37 shares during the last quarter. Savant Capital LLC boosted its position in shares of Ulta Beauty by 199.5% in the 4th quarter. Savant Capital LLC now owns 4,646 shares of the specialty retailer's stock worth $2,021,000 after purchasing an additional 3,095 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Ulta Beauty by 7.8% during the fourth quarter. Sanctuary Advisors LLC now owns 3,973 shares of the specialty retailer's stock worth $1,663,000 after purchasing an additional 288 shares during the period. Buckhead Capital Management LLC increased its holdings in Ulta Beauty by 15.6% in the fourth quarter. Buckhead Capital Management LLC now owns 12,088 shares of the specialty retailer's stock valued at $5,257,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in Ulta Beauty in the fourth quarter valued at about $311,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $437.00 price target (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. UBS Group boosted their price objective on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a report on Friday, May 30th. Citigroup increased their target price on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Morgan Stanley lifted their price target on shares of Ulta Beauty from $460.00 to $550.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, The Goldman Sachs Group upgraded shares of Ulta Beauty from a "neutral" rating to a "buy" rating and upped their price objective for the company from $384.00 to $423.00 in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $460.91.

Ulta Beauty Trading Down 1.3%

Shares of NASDAQ ULTA traded down $6.11 during midday trading on Tuesday, reaching $462.21. The company's stock had a trading volume of 691,006 shares, compared to its average volume of 1,046,904. The stock has a 50 day simple moving average of $396.52 and a 200-day simple moving average of $393.20. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.89 and a beta of 1.09. Ulta Beauty, Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the firm earned $6.47 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the transaction, the insider now directly owns 7,632 shares in the company, valued at $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

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.