Smead Capital Management Inc. Sells 17,724 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Smead Capital Management Inc. reduced its stake in Ulta Beauty Inc. by 8.7%, selling 17,724 shares, and now owns 187,167 shares, representing 0.41% of Ulta's total stock.
• Ulta reported a quarterly EPS of $5.78, exceeding expectations of $5.03, with revenue of $2.79 billion, surpassing analysts' predictions of $2.66 billion.
• Brokerages have adjusted their price targets for Ulta Beauty, with Telsey Advisory Group raising its target from $520 to $590 and UBS Group increasing theirs from $525 to $640, reflecting positive market sentiment.

Smead Capital Management Inc. reduced its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,167 shares of the specialty retailer's stock after selling 17,724 shares during the period. Ulta Beauty accounts for 1.2% of Smead Capital Management Inc.'s portfolio, making the stock its 27th largest position. Smead Capital Management Inc. owned approximately 0.41% of Ulta Beauty worth $68,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ulta Beauty by 17.9% in 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 during the period. Kingswood Wealth Advisors LLC grew its holdings in Ulta Beauty by 14.8% in 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 during the period. Concurrent Investment Advisors LLC purchased a new stake in Ulta Beauty in the first quarter worth about $201,000. Farther Finance Advisors LLC grew its holdings in Ulta Beauty by 128.9% in 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 during the period. Finally, Kaufman Rossin Wealth LLC purchased a new stake in Ulta Beauty in the first quarter worth about $250,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Trading Down 7.1%

ULTA stock traded down $37.90 on Friday, hitting $492.73. The company had a trading volume of 2,938,427 shares, compared to its average volume of 792,634. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $538.59. The stock's 50-day simple moving average is $498.99 and its 200 day simple moving average is $427.60. The stock has a market cap of $22.09 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 2.88 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $2.66 billion. During the same quarter last year, the company posted $5.30 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ULTA shares. Raymond James Financial restated an "outperform" rating and issued a $605.00 price objective (up previously from $580.00) on shares of Ulta Beauty in a report on Friday. Evercore ISI upped their price objective on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday. Jefferies Financial Group upped their price objective 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. Morgan Stanley increased their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a report on Friday. Finally, Piper Sandler reiterated a "neutral" rating and set a $437.00 price target (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $534.75.

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.