Kingswood Wealth Advisors LLC Sells 457 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Kingswood Wealth Advisors LLC has reduced its stake in Ulta Beauty by 38.8%, selling 457 shares, and now holds 722 shares valued at approximately $338,000.
• Several institutional investors including Price T Rowe Associates Inc. and JPMorgan Chase & Co. have significantly increased their holdings in Ulta Beauty during the first quarter of this year.
• Analysts remain optimistic about Ulta Beauty, with a consensus rating of "Moderate Buy" and a target price averaging $549.33.

Kingswood Wealth Advisors LLC lowered its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 38.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 722 shares of the specialty retailer's stock after selling 457 shares during the period. Kingswood Wealth Advisors LLC's holdings in Ulta Beauty were worth $338,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock worth $449,021,000 after acquiring an additional 688,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after acquiring an additional 366,147 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after acquiring an additional 410,900 shares during the period. Invesco Ltd. boosted its holdings in shares of Ulta Beauty by 10.9% during the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock worth $298,231,000 after acquiring an additional 79,666 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Ulta Beauty by 17.4% during the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer's stock worth $254,985,000 after acquiring an additional 80,734 shares during the period. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ULTA shares. Raymond James Financial restated an "outperform" rating and set a $605.00 price objective (up previously from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. Piper Sandler assumed coverage on Ulta Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $590.00 price objective for the company. Bank of America boosted their price target on Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Citigroup boosted their price target on Ulta Beauty from $450.00 to $550.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Cowen reiterated a "hold" rating on shares of Ulta Beauty in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $549.33.

Ulta Beauty Price Performance

Shares of ULTA opened at $549.28 on Friday. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23. The company has a market cap of $24.63 billion, a P/E ratio of 21.06, a P/E/G ratio of 3.09 and a beta of 1.08. The firm has a 50 day simple moving average of $528.22 and a two-hundred day simple moving average of $463.92.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned $5.30 earnings per share. The company's revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

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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