First Foundation Advisors Sells 1,601 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• First Foundation Advisors sold 1,601 shares of Ulta Beauty Inc., reducing its position by 13.2%, leaving it with 10,517 shares valued at approximately $3.86 million.
• Analysts have increased price targets for Ulta Beauty, with Oppenheimer raising theirs from $465 to $510 while stating an "outperform" rating, indicating strong investor confidence.
• Ulta Beauty reported a quarterly earnings per share (EPS) of $6.70, exceeding estimates and marking a year-over-year revenue increase of 4.5%, with analysts forecasting a total EPS of 23.96 for the current year.

First Foundation Advisors reduced its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 13.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,517 shares of the specialty retailer's stock after selling 1,601 shares during the quarter. First Foundation Advisors' holdings in Ulta Beauty were worth $3,855,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. boosted its position in Ulta Beauty by 32.5% during the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock valued at $40,000 after acquiring an additional 27 shares during the last quarter. RWA Wealth Partners LLC lifted its stake in shares of Ulta Beauty by 1.5% in the 4th quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer's stock valued at $812,000 after purchasing an additional 28 shares during the period. Procyon Advisors LLC boosted its position in shares of Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock valued at $259,000 after purchasing an additional 29 shares in the last quarter. Lido Advisors LLC grew its stake in Ulta Beauty by 5.0% during the fourth quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer's stock worth $272,000 after purchasing an additional 30 shares during the period. Finally, Sagespring Wealth Partners LLC grew its stake in Ulta Beauty by 5.0% during the first quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock worth $229,000 after purchasing an additional 30 shares during the period. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ULTA shares. Oppenheimer boosted their price target on Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Citigroup raised their price target on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Evercore ISI upped their price objective on shares of Ulta Beauty from $465.00 to $490.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Barclays increased their price objective on shares of Ulta Beauty from $327.00 to $485.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $465.04.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $519.27 on Tuesday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $520.87. The firm has a 50-day moving average price of $466.85 and a two-hundred day moving average price of $408.53. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.12 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. Ulta Beauty's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.47 earnings per share. As a group, sell-side analysts forecast 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.

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