Freestone Capital Holdings LLC Reduces Stock Position in Ulta Beauty Inc. $ULTA

Key Points

• Freestone Capital Holdings LLC reduced its stake in Ulta Beauty Inc. by 10.3%, owning 8,242 shares worth approximately $3,021,000 after selling 948 shares during the first quarter.
• Ulta Beauty reported $6.70 earnings per share for the last quarter, surpassing analysts' expectations of $5.73, and generated $2.85 billion in revenue, exceeding estimates of $2.79 billion.
• Brokerages have upgraded their price targets for Ulta Beauty, with estimates ranging from $400 to $525, while maintaining an average rating of "Hold".

Freestone Capital Holdings LLC lowered its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,242 shares of the specialty retailer's stock after selling 948 shares during the quarter. Freestone Capital Holdings LLC's holdings in Ulta Beauty were worth $3,021,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Capital World Investors purchased a new stake in shares of Ulta Beauty in the 4th quarter worth $430,674,000. JPMorgan Chase & Co. lifted its holdings in shares of Ulta Beauty by 81.7% in the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after buying an additional 410,900 shares during the period. Invesco Ltd. lifted its holdings in shares of Ulta Beauty by 10.9% in the 1st quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock worth $298,231,000 after buying an additional 79,666 shares during the period. Deutsche Bank AG lifted its holdings in shares of Ulta Beauty by 1.4% in the 4th quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock worth $285,123,000 after buying an additional 9,291 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Ulta Beauty by 14.7% in the 4th quarter. Northern Trust Corp now owns 562,155 shares of the specialty retailer's stock worth $244,498,000 after buying an additional 72,004 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $521.00 on Monday. The stock's 50-day simple moving average is $488.32 and its 200-day simple moving average is $418.47. The firm has a market capitalization of $23.42 billion, a PE ratio of 20.35, a P/E/G ratio of 3.14 and a beta of 1.12. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $534.10.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion for 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%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $6.47 earnings per share. Sell-side analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ULTA. Citigroup upped their target price on Ulta Beauty from $425.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Truist Financial boosted their price target on Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Piper Sandler reissued a "neutral" rating and issued a $437.00 price target (up from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. UBS Group boosted their price target on Ulta Beauty from $490.00 to $525.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company boosted their price target on Ulta Beauty from $350.00 to $400.00 and gave the stock an "underweight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $475.17.

About Ulta Beauty

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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