IFP Advisors Inc Sells 2,564 Shares of Ulta Beauty Inc. $ULTA

Key Points

• IFP Advisors Inc has reduced its holdings in Ulta Beauty by 74.6% during Q2, now owning 871 shares valued at approximately $407,000.
• Multiple institutional investors, including Baldwin Wealth Partners and Callan Family Office, increased their stakes in Ulta Beauty during the same period.
• Ulta Beauty reported $5.78 EPS for the latest quarter, surpassing estimates, with a revenue increase of 9.3% year-over-year to $2.79 billion.

IFP Advisors Inc decreased its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 74.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 871 shares of the specialty retailer's stock after selling 2,564 shares during the period. IFP Advisors Inc's holdings in Ulta Beauty were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Baldwin Wealth Partners LLC MA raised its stake in Ulta Beauty by 1.9% in the second quarter. Baldwin Wealth Partners LLC MA now owns 27,187 shares of the specialty retailer's stock worth $12,719,000 after buying an additional 496 shares in the last quarter. Callan Family Office LLC raised its stake in Ulta Beauty by 106.9% in the second quarter. Callan Family Office LLC now owns 1,144 shares of the specialty retailer's stock worth $535,000 after buying an additional 591 shares in the last quarter. US Bancorp DE raised its stake in Ulta Beauty by 1.1% in the second quarter. US Bancorp DE now owns 12,061 shares of the specialty retailer's stock worth $5,642,000 after buying an additional 132 shares in the last quarter. Allegiance Financial Group Advisory Services LLC purchased a new position in Ulta Beauty in the second quarter worth $306,000. Finally, Optas LLC purchased a new position in Ulta Beauty in the second quarter worth $269,000. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the company'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 sale, the director directly owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company's stock.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $538.49 on Thursday. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23. The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.98 and a beta of 1.08. The firm's fifty day moving average is $529.84 and its two-hundred day moving average is $467.51.

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 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 for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company earned $5.30 earnings per share. The firm's revenue was up 9.3% 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 fiscal year.

Analysts Set New Price Targets

ULTA has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Ulta Beauty from $425.00 to $550.00 and gave the stock a "hold" rating in a report on Tuesday, August 26th. Evercore ISI lifted their price target on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Piper Sandler initiated coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 price target on the stock. UBS Group lifted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company lifted their price target on shares of Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a report on Friday, August 29th. One equities research 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. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of "Moderate Buy" and a consensus price target of $549.33.

Ulta Beauty 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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