AMI Asset Management Corp Has $52.09 Million Stake in Ulta Beauty Inc. $ULTA

AMI Asset Management Corp grew its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,337 shares of the specialty retailer's stock after acquiring an additional 18,865 shares during the quarter. Ulta Beauty accounts for about 3.0% of AMI Asset Management Corp's holdings, making the stock its 9th largest position. AMI Asset Management Corp owned 0.25% of Ulta Beauty worth $52,086,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ulta Beauty by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after buying an additional 924 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of Ulta Beauty by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after buying an additional 152 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Ulta Beauty during the 1st quarter worth approximately $201,000. Farther Finance Advisors LLC lifted its position in shares of Ulta Beauty by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after buying an additional 415 shares during the period. Finally, Kaufman Rossin Wealth LLC bought a new position in shares of Ulta Beauty during the 1st quarter worth approximately $250,000. Institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the transaction, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $556.04 on Thursday. The stock has a fifty day moving average of $521.97 and a 200-day moving average of $453.98. The stock has a market capitalization of $24.93 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 3.01 and a beta of 1.08. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $559.41.

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

Wall Street Analysts Forecast Growth

ULTA has been the subject of several analyst reports. Oppenheimer raised their target price on Ulta Beauty from $510.00 to $600.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Bank of America raised their target price on Ulta Beauty from $500.00 to $575.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Canaccord Genuity Group set a $650.00 target price on Ulta Beauty in a research report on Friday, August 29th. Piper Sandler assumed coverage on Ulta Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $590.00 price target for the company. Finally, Robert W. Baird raised their price target on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $544.20.

Ulta Beauty Company 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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