Cambridge Investment Research Advisors Inc. Cuts Stock Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 20.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,384 shares of the specialty retailer's stock after selling 1,390 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Ulta Beauty were worth $1,973,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ULTA. Prestige Wealth Management Group LLC raised its stake in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after buying an additional 34 shares during the period. American National Bank & Trust acquired a new stake in shares of Ulta Beauty during the first quarter worth about $29,000. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after purchasing an additional 59 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 40 shares during the period. Finally, NBC Securities Inc. bought a new stake in Ulta Beauty during the 1st quarter worth approximately $37,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Trading Up 0.3%

Shares of NASDAQ:ULTA traded up $1.40 during trading on Wednesday, reaching $474.84. The company had a trading volume of 642,978 shares, compared to its average volume of 1,042,575. The company has a fifty day moving average of $431.62 and a two-hundred day moving average of $400.74. The stock has a market capitalization of $21.34 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) 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 last year, the business earned $6.47 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of research reports. Canaccord Genuity Group lifted their price target on shares of Ulta Beauty from $510.00 to $542.00 and gave the company a "buy" rating in a research note on Friday, May 30th. B. Riley cut their price objective on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $520.00 price objective on shares of Ulta Beauty in a research report on Thursday, June 26th. Wall Street Zen raised Ulta Beauty from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $437.00 price target (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $462.22.

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.