Fulton Bank N.A. Has $1.01 Million Holdings in Ulta Beauty Inc. $ULTA

Key Points

• Fulton Bank N.A. increased its stake in Ulta Beauty Inc. by 48.3%, owning 2,155 shares worth approximately $1.01 million as of the latest SEC filing.
• Institutional investors now hold 90.39% of Ulta Beauty's stock, with various firms significantly boosting their positions in the first quarter of 2023.
• Ulta Beauty's stock has been upgraded by multiple analysts, with target prices ranging from $550 to $650, reflecting strong growth prospects despite short-term volatility.

Fulton Bank N.A. lifted its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 48.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,155 shares of the specialty retailer's stock after acquiring an additional 702 shares during the quarter. Fulton Bank N.A.'s holdings in Ulta Beauty were worth $1,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ULTA. American National Bank & Trust acquired a new position in shares of Ulta Beauty in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Ulta Beauty in the 1st quarter worth approximately $31,000. Rakuten Securities Inc. boosted its holdings in shares of Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares in the last quarter. North Star Investment Management Corp. boosted its holdings 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 worth $35,000 after acquiring an additional 40 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Ulta Beauty in the 1st quarter worth approximately $36,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares of the company's stock, valued at $1,195,837.09. The trade was a 18.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ULTA has been the topic of several recent analyst reports. Bank of America boosted their target price on Ulta Beauty from $500.00 to $575.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a research report on Friday, August 29th. Citigroup boosted their price objective on shares of Ulta Beauty from $450.00 to $550.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Barclays boosted their price objective on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Piper Sandler started coverage on shares of Ulta Beauty in a research report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $543.13.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $534.81 on Friday. The firm has a fifty day moving average of $513.15 and a two-hundred day moving average of $441.96. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.91 and a beta of 1.06. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $539.00.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business earned $5.30 EPS. The firm's revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal 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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