Janney Montgomery Scott LLC Has $8.63 Million Stake in Ulta Beauty Inc. $ULTA

Key Points

• Janney Montgomery Scott LLC reduced its stake in Ulta Beauty by 3.6%, holding $8.63 million worth of shares after selling 683 shares in the second quarter.
• Ulta Beauty reported a quarterly EPS of $5.78, exceeding analysts' expectations, with revenue of $2.79 billion—up by 9.3% compared to the previous year.
• Investment analysts have raised their price targets for Ulta Beauty, with the consensus rating shifting to a "Moderate Buy" and an average price target of $544.20.

Janney Montgomery Scott LLC trimmed its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,440 shares of the specialty retailer's stock after selling 683 shares during the period. Janney Montgomery Scott LLC's holdings in Ulta Beauty were worth $8,627,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ulta Beauty by 17.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after purchasing an additional 924 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Ulta Beauty by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after purchasing an additional 152 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Ulta Beauty during the first quarter worth approximately $201,000. Farther Finance Advisors LLC lifted its position in shares of Ulta Beauty by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after purchasing an additional 415 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC acquired a new position in shares of Ulta Beauty during the first quarter worth approximately $250,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $556.45 on Friday. The stock has a market cap of $24.95 billion, a P/E ratio of 21.34, a P/E/G ratio of 3.06 and a beta of 1.08. The company has a fifty day moving average price of $523.68 and a two-hundred day moving average price of $457.62. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $562.11.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced 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. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.30 earnings per share. As a group, equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the transaction, the director directly owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ULTA shares. Bank of America increased their price objective on shares of Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Raymond James Financial restated an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. Wells Fargo & Company increased their price objective on shares of Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a report on Friday, August 29th. Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a report on Friday, August 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Ulta Beauty from $530.00 to $584.00 and gave the company a "buy" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ulta Beauty presently has an average rating of "Moderate Buy" and a consensus price target of $544.20.

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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