Cresset Asset Management LLC Sells 704 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Cresset Asset Management LLC reduced its holdings in Ulta Beauty by 36.2%, ending the first quarter with 1,240 shares valued at approximately $455,000.
• Ulta Beauty reported $6.70 earnings per share for the latest quarter, exceeding analysts' expectations of $5.73, alongside a year-over-year revenue increase of 4.5%.
• A number of analysts have increased their price targets for Ulta Beauty, with Oppenheimer raising their target from $510 to $600, reflecting a positive outlook on the company's performance.

Cresset Asset Management LLC lessened its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 36.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,240 shares of the specialty retailer's stock after selling 704 shares during the period. Cresset Asset Management LLC's holdings in Ulta Beauty were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wambolt & Associates LLC increased its holdings in Ulta Beauty by 1.6% during the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock worth $626,000 after acquiring an additional 26 shares during the period. Westside Investment Management Inc. grew its stake in Ulta Beauty by 32.5% in the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after buying an additional 27 shares in the last quarter. Procyon Advisors LLC grew its stake in Ulta Beauty by 4.3% in the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after buying an additional 29 shares in the last quarter. Lido Advisors LLC grew its stake in Ulta Beauty by 5.0% in the 4th quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer's stock worth $272,000 after buying an additional 30 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in Ulta Beauty by 5.0% in the 1st quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock worth $229,000 after buying an additional 30 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

NASDAQ:ULTA traded down $37.90 during midday trading on Friday, reaching $492.73. 2,938,427 shares of the stock traded hands, compared to its average volume of 676,046. The company has a fifty day moving average of $498.99 and a 200 day moving average of $427.13. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $538.59. The stock has a market capitalization of $22.15 billion, a P/E ratio of 18.89, a PEG ratio of 2.96 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating analysts' consensus estimates of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 49.73%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business posted $5.30 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ULTA shares. UBS Group boosted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a "buy" rating in a research note on Friday. Loop Capital reissued a "hold" rating and issued a $510.00 price target on shares of Ulta Beauty in a research note on Friday, July 25th. Wall Street Zen raised shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group boosted their price target on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Cowen reaffirmed a "hold" rating on shares of Ulta Beauty in a research note on Friday. Thirteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $534.75.

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.