Beech Hill Advisors Inc. Has $2.08 Million Stake in Ulta Beauty Inc. $ULTA

Key Points

• Beech Hill Advisors Inc. has reduced its stake in Ulta Beauty Inc. by 36% during the second quarter, now holding 4,439 shares valued at approximately $2.08 million.
• Analysts have recently increased price targets for Ulta Beauty, with Evercore ISI raising it from $595 to $640 and Barclays adjusting theirs from $589 to $617.
• Ulta Beauty reported earnings of $5.78 per share for the last quarter, exceeding analysts' expectations, alongside revenues of $2.79 billion, up 9.3% year-over-year.

Beech Hill Advisors Inc. reduced its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,439 shares of the specialty retailer's stock after selling 2,492 shares during the quarter. Beech Hill Advisors Inc.'s holdings in Ulta Beauty were worth $2,077,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in Ulta Beauty by 17.9% in 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 buying an additional 924 shares during the period. Ascent Group LLC bought a new position in Ulta Beauty during the second quarter worth $395,000. Concurrent Investment Advisors LLC acquired a new position in Ulta Beauty during the 1st quarter valued at $201,000. J. Safra Sarasin Holding AG boosted its holdings in Ulta Beauty by 167.8% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 4,513 shares of the specialty retailer's stock valued at $2,111,000 after purchasing an additional 2,828 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC acquired a new stake in Ulta Beauty in the 2nd quarter worth $306,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ULTA shares. Evercore ISI lifted their target price on Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Barclays raised their price objective on Ulta Beauty from $589.00 to $617.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Robert W. Baird boosted their price objective on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Weiss Ratings restated a "hold (c)" rating on shares of Ulta Beauty in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $610.00 price target on shares of Ulta Beauty in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ulta Beauty presently has a consensus rating of "Moderate Buy" and a consensus price target of $550.38.

Insiders Place Their Bets

In other news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the sale, the director owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company's stock.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $523.72 on Tuesday. The business's fifty day moving average price is $531.67 and its two-hundred day moving average price is $472.27. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $572.23. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company earned $5.30 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts expect 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.

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