AMI Asset Management Corp Sells 4,983 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

AMI Asset Management Corp reduced its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,472 shares of the specialty retailer's stock after selling 4,983 shares during the quarter. Ulta Beauty accounts for about 2.0% of AMI Asset Management Corp's investment portfolio, making the stock its 25th biggest holding. AMI Asset Management Corp owned 0.20% of Ulta Beauty worth $33,895,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ULTA. LaFleur & Godfrey LLC boosted its holdings in shares of Ulta Beauty by 32.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 2,455 shares of the specialty retailer's stock valued at $1,068,000 after acquiring an additional 596 shares during the last quarter. IFP Advisors Inc lifted its position in Ulta Beauty by 6.5% during the fourth quarter. IFP Advisors Inc now owns 3,481 shares of the specialty retailer's stock valued at $1,514,000 after purchasing an additional 213 shares during the period. Argonautica Private Wealth Management Inc. boosted its holdings in Ulta Beauty by 4.2% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 861 shares of the specialty retailer's stock worth $374,000 after purchasing an additional 35 shares during the last quarter. Simmons Bank grew its position in Ulta Beauty by 14.1% in the 4th quarter. Simmons Bank now owns 5,124 shares of the specialty retailer's stock worth $2,229,000 after purchasing an additional 634 shares during the period. Finally, Mn Services Vermogensbeheer B.V. grew its position in Ulta Beauty by 4.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 19,500 shares of the specialty retailer's stock worth $8,481,000 after purchasing an additional 900 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Stock Down 0.3%

ULTA stock traded down $1.43 during midday trading on Thursday, hitting $457.66. The company's stock had a trading volume of 834,518 shares, compared to its average volume of 1,041,952. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $491.98. The company has a 50 day moving average of $423.67 and a two-hundred day moving average of $399.70. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the business earned $6.47 earnings per share. Ulta Beauty's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ULTA. Bank of America dropped their price target on Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Piper Sandler reissued a "neutral" rating and issued a $437.00 target price (up from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. Oppenheimer boosted their price target on Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. The Goldman Sachs Group upgraded shares of Ulta Beauty from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $384.00 to $423.00 in a research note on Tuesday, April 1st. Finally, Raymond James Financial restated an "outperform" rating and set a $500.00 target price (up from $450.00) on shares of Ulta Beauty in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ulta Beauty has a consensus rating of "Hold" and a consensus target price of $462.22.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the sale, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. The trade was a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.

About Ulta Beauty

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.