Callan Family Office LLC Lowers Stake in Ulta Beauty Inc. $ULTA

Key Points

• Callan Family Office LLC has reduced its holdings in Ulta Beauty Inc. by 65.8%, selling 1,063 shares and now owning only 553 shares valued at approximately $203,000.
• Ulta Beauty's latest earnings report showed a significant EPS of $6.70, exceeding analysts' expectations, along with a revenue of $2.85 billion for the quarter.
• Analysts have set new price targets for Ulta Beauty shares, with ranges from $386.00 to $585.00, reflecting a mix of ratings from sell to buy.

Callan Family Office LLC cut its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 65.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553 shares of the specialty retailer's stock after selling 1,063 shares during the quarter. Callan Family Office LLC's holdings in Ulta Beauty were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Enhancing Capital LLC grew its position in shares of Ulta Beauty by 2.7% in the 1st quarter. Enhancing Capital LLC now owns 1,476 shares of the specialty retailer's stock worth $541,000 after buying an additional 39 shares during the period. Public Sector Pension Investment Board boosted its stake in Ulta Beauty by 6.3% in the 1st quarter. Public Sector Pension Investment Board now owns 6,269 shares of the specialty retailer's stock worth $2,298,000 after purchasing an additional 371 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in Ulta Beauty by 13.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,196 shares of the specialty retailer's stock worth $438,000 after purchasing an additional 138 shares in the last quarter. SouthState Corp boosted its stake in Ulta Beauty by 8.2% in the 1st quarter. SouthState Corp now owns 8,640 shares of the specialty retailer's stock worth $3,167,000 after purchasing an additional 655 shares in the last quarter. Finally, CCM Investment Group LLC bought a new position in Ulta Beauty in the 1st quarter worth about $1,549,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ULTA. UBS Group upped their price target on shares of Ulta Beauty from $490.00 to $525.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Wells Fargo & Company upped their price target on shares of Ulta Beauty from $350.00 to $400.00 and gave the stock an "underweight" rating in a research note on Friday. Truist Financial upped their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Piper Sandler reiterated a "neutral" rating and issued a $437.00 price target (up previously from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Finally, Citigroup reiterated a "neutral" rating on shares of Ulta Beauty in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $475.17.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded down $4.13 during trading on Monday, hitting $516.87. The company's stock had a trading volume of 469,445 shares, compared to its average volume of 578,761. The company has a 50-day moving average of $489.29 and a 200-day moving average of $419.20. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $534.10. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.14 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter in the prior year, the business earned $6.47 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current 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.