MAI Capital Management Sells 809 Shares of Ulta Beauty Inc. $ULTA

Key Points

• MAI Capital Management reduced its holdings in Ulta Beauty by 14.8%, now owning 4,648 shares worth approximately $1.7 million.
• Ulta Beauty reported earnings of $5.78 per share for the last quarter, surpassing expectations of $5.03 and showing a 9.3% increase in revenue year-over-year.
• Analysts have raised price targets for Ulta Beauty, with Evercore ISI setting a target of $640, indicating strong investor confidence in the stock.

MAI Capital Management lowered its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,648 shares of the specialty retailer's stock after selling 809 shares during the period. MAI Capital Management's holdings in Ulta Beauty were worth $1,704,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. American National Bank & Trust purchased a new position in shares of Ulta Beauty in the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty in the first quarter worth about $31,000. Rakuten Securities Inc. increased its holdings in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after buying an additional 40 shares during the period. Finally, Costello Asset Management INC purchased a new position in Ulta Beauty during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Trading Down 2.8%

Ulta Beauty stock traded down $14.64 during trading hours on Friday, hitting $514.86. 880,236 shares of the stock traded hands, compared to its average volume of 883,078. The firm's 50-day moving average price is $504.79 and its two-hundred day moving average price is $432.06. The company has a market cap of $23.09 billion, a PE ratio of 19.74, a PEG ratio of 2.92 and a beta of 1.06. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $539.00.

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

Wall Street Analyst Weigh In

ULTA has been the topic of a number of research analyst reports. DA Davidson boosted their price target on Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on Ulta Beauty from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Evercore ISI boosted their price target on Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a report on Friday, August 29th. UBS Group boosted their price target on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Wells Fargo & Company boosted their price target on Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a report on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $543.13.

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.