Moran Wealth Management LLC Has $5.63 Million Stock Position in Ulta Beauty Inc. $ULTA

Moran Wealth Management LLC reduced its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 21.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,043 shares of the specialty retailer's stock after selling 3,335 shares during the quarter. Moran Wealth Management LLC's holdings in Ulta Beauty were worth $5,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ULTA. Price T Rowe Associates Inc. MD grew 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 valued at $449,021,000 after buying an additional 688,267 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 valued at $334,871,000 after purchasing an additional 410,900 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position 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 valued at $341,453,000 after purchasing an additional 366,147 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Ulta Beauty by 5,117.0% during the first quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock valued at $80,753,000 after purchasing an additional 216,089 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Ulta Beauty by 237.7% during the first quarter. AQR Capital Management LLC now owns 270,420 shares of the specialty retailer's stock valued at $96,674,000 after purchasing an additional 190,353 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ULTA. DA Davidson raised their price target on shares of Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a research report on Friday, August 29th. UBS Group raised their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Evercore ISI raised their price target on shares of Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $525.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Ulta Beauty in a research report on Wednesday, October 8th. One investment 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $549.33.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $541.01 on Wednesday. The firm has a market cap of $24.26 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.99 and a beta of 1.08. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23. The firm's 50-day simple moving average is $529.39 and its two-hundred day simple moving average is $467.02.

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, topping the consensus estimate of $5.03 by $0.75. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.30 earnings per share. Analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction dated 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 in the company, valued at $1,195,837.09. This trade 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 is available at the SEC website. 0.39% of the stock is owned by insiders.

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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