Baird Financial Group Inc. Has $5.87 Million Position in Ulta Beauty Inc. $ULTA

Key Points

• Baird Financial Group Inc. has reduced its stake in Ulta Beauty Inc. by 27.8%, selling 6,179 shares and now holding 16,015 shares valued at approximately $5.87 million.
• Ulta Beauty reported a strong quarterly earnings performance with $5.78 earnings per share, exceeding analysts' expectations and showing a 9.3% year-over-year revenue increase to $2.79 billion.
• Analyst ratings for Ulta Beauty reflect cautious optimism, with a consensus rating of "Hold" and an average price target of $543.13.

Baird Financial Group Inc. trimmed its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 27.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,015 shares of the specialty retailer's stock after selling 6,179 shares during the period. Baird Financial Group Inc.'s holdings in Ulta Beauty were worth $5,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 924 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Ulta Beauty by 14.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock valued at $435,000 after purchasing an additional 152 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Ulta Beauty during the first quarter worth about $201,000. Farther Finance Advisors LLC grew its holdings in Ulta Beauty by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after purchasing an additional 415 shares during the period. Finally, Kaufman Rossin Wealth LLC acquired a new position in Ulta Beauty during the first quarter worth approximately $250,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of ULTA stock traded down $14.64 on Friday, hitting $514.86. The company's stock had a trading volume of 880,236 shares, compared to its average volume of 883,078. The stock's 50 day moving average is $504.79 and its 200-day moving average is $432.56. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $539.00. The company has a market capitalization of $23.09 billion, a PE ratio of 19.74, a PEG ratio of 2.84 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Oppenheimer upped their price objective on Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Evercore ISI boosted their target price on Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. The Goldman Sachs Group increased their price target on Ulta Beauty from $530.00 to $584.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Jefferies Financial Group raised their price target on Ulta Beauty from $425.00 to $550.00 and gave the company a "hold" rating in a report on Tuesday, August 26th. Finally, Piper Sandler began coverage on shares of Ulta Beauty in a research report on Thursday. They set an "overweight" rating and a $590.00 price objective for the company. Fourteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $543.13.

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.