Ulta Beauty Inc. (NASDAQ:ULTA) Stake Reduced by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Ulta Beauty Inc. by 52.6%, selling 1,058 shares during the first quarter, leaving them with 953 shares valued at $349,000.
• Institutional investors currently own 90.39% of Ulta Beauty's stock, with various hedge funds making significant movements in their positions during the last quarters.
• Wall Street analysts have mixed views on Ulta Beauty, with predictions of growth reflected in varying price targets, but the consensus rating remains a "Hold" with an average target of $475.17.

Atria Wealth Solutions Inc. reduced its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 52.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 953 shares of the specialty retailer's stock after selling 1,058 shares during the period. Atria Wealth Solutions Inc.'s holdings in Ulta Beauty were worth $349,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ULTA. American National Bank & Trust purchased a new position in shares of Ulta Beauty during the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty during the 1st quarter worth about $31,000. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares during the period. Finally, Costello Asset Management INC purchased a new position in shares of Ulta Beauty during the 1st quarter worth about $37,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Ulta Beauty from $440.00 to $525.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Wall Street Zen lowered shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley raised their price target on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Evercore ISI raised their price target on shares of Ulta Beauty from $465.00 to $490.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Oppenheimer raised their price target on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty has an average rating of "Hold" and an average target price of $475.17.

Ulta Beauty Stock Performance

Shares of ULTA traded down $5.18 during midday trading on Friday, hitting $521.00. 495,402 shares of the stock traded hands, compared to its average volume of 578,761. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $534.10. The firm has a market capitalization of $23.42 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.12. The business's 50 day moving average price is $488.32 and its two-hundred day moving average price is $418.47.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.47 earnings per share. As a group, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

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.