Avantax Advisory Services Inc. Raises Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Avantax Advisory Services Inc. increased its stake in Ulta Beauty Inc. by 76.6% during the first quarter, owning 2,735 shares valued at over $1 million.
• Several institutional investors have significantly impacted Ulta’s stock, with Capital World Investors acquiring a new position worth approximately $430 million, while Marshall Wace LLP raised its stake by 10,336.7%.
• Ulta Beauty reported a quarterly EPS of $6.70, exceeding analysts' expectations, and achieved a revenue increase of 4.5% year-over-year, totaling $2.85 billion.

Avantax Advisory Services Inc. increased its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 76.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,735 shares of the specialty retailer's stock after buying an additional 1,186 shares during the period. Avantax Advisory Services Inc.'s holdings in Ulta Beauty were worth $1,002,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in Ulta Beauty by 166.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,947 shares of the specialty retailer's stock valued at $1,282,000 after acquiring an additional 1,840 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Ulta Beauty by 26.4% in the 4th quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer's stock worth $31,809,000 after purchasing an additional 15,258 shares in the last quarter. Franklin Resources Inc. increased its stake in Ulta Beauty by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 40,242 shares of the specialty retailer's stock worth $17,502,000 after buying an additional 4,952 shares in the last quarter. World Investment Advisors lifted its position in shares of Ulta Beauty by 329.7% in the fourth quarter. World Investment Advisors now owns 2,342 shares of the specialty retailer's stock valued at $1,019,000 after acquiring an additional 1,797 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Ulta Beauty during the fourth quarter valued at about $6,494,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Down 1.4%

ULTA stock traded down $7.28 during midday trading on Friday, hitting $507.73. The company's stock had a trading volume of 609,772 shares, compared to its average volume of 577,379. The firm has a market capitalization of $22.82 billion, a P/E ratio of 19.83, a PEG ratio of 3.07 and a beta of 1.12. The firm has a 50-day simple moving average of $475.19 and a 200-day simple moving average of $411.51. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $523.68.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly 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 10.45% and a return on equity of 49.73%. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period in the previous year, the company earned $6.47 earnings per share. Ulta Beauty's quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Loop Capital reiterated a "hold" rating and issued a $510.00 price target on shares of Ulta Beauty in a research report on Friday, July 25th. Wall Street Zen lowered shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Saturday. 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 upped their price target on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Finally, Morgan Stanley boosted their price objective on Ulta Beauty from $460.00 to $550.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $469.09.

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.