Bayforest Capital Ltd Has $603,000 Stake in Ulta Beauty Inc. $ULTA

Key Points

• Bayforest Capital Ltd reduced its stake in Ulta Beauty Inc. by 27.9%, owning 1,290 shares valued at approximately $603,000 after selling 498 shares.
• Analysts have raised their price targets for Ulta Beauty, with Canaccord Genuity increasing the target to $653.00 and Citigroup raising it to $550.00, indicating a generally positive outlook for the stock.
• Ulta Beauty reported a $5.78 EPS for the last quarter, exceeding analysts' expectations and reflecting a 9.3% year-over-year revenue growth.

Bayforest Capital Ltd reduced its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 27.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,290 shares of the specialty retailer's stock after selling 498 shares during the period. Bayforest Capital Ltd's holdings in Ulta Beauty were worth $603,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Morningstar Investment Management LLC acquired a new position in shares of Ulta Beauty in the 2nd quarter valued at $225,000. Perfromance Wealth Partners LLC increased its holdings in Ulta Beauty by 8.3% in the second quarter. Perfromance Wealth Partners LLC now owns 3,275 shares of the specialty retailer's stock valued at $1,532,000 after purchasing an additional 250 shares during the last quarter. NorthRock Partners LLC acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at approximately $263,000. Envestnet Portfolio Solutions Inc. raised its holdings in Ulta Beauty by 23.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 758 shares of the specialty retailer's stock worth $355,000 after purchasing an additional 143 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Ulta Beauty by 30.3% during the second quarter. Sequoia Financial Advisors LLC now owns 1,664 shares of the specialty retailer's stock worth $778,000 after acquiring an additional 387 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ULTA. Canaccord Genuity Group lifted their price target on shares of Ulta Beauty from $650.00 to $653.00 and gave the company a "buy" rating in a research note on Friday. Citigroup upped their target price on shares of Ulta Beauty from $450.00 to $550.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. DA Davidson lifted their price target on Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ulta Beauty in a research report on Wednesday, October 8th. Finally, Robert W. Baird lifted their target price on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ulta Beauty presently has a consensus rating of "Moderate Buy" and a consensus price target of $549.33.

Ulta Beauty Stock Down 0.4%

NASDAQ:ULTA opened at $541.01 on Wednesday. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $572.23. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.08. The stock's 50 day moving average price is $529.39 and its two-hundred day moving average price is $467.02.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.30 EPS. As a group, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director directly owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate 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.

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