Ulta Beauty Inc. $ULTA Holdings Lowered by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has reduced its stake in Ulta Beauty Inc. by 65.3%, owning 3,330 shares worth approximately $1.56 million after selling 6,273 shares in the second quarter.
• Ulta Beauty reported a quarterly earnings per share (EPS) of $5.78, exceeding analyst expectations of $5.03, alongside a revenue increase of 9.3% year-over-year to $2.79 billion.
• Several analysts have updated their price targets for Ulta Beauty, with Oppenheimer raising it to $600.00 and UBS Group increasing it to $680.00, reflecting a generally positive outlook on the stock.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 65.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,330 shares of the specialty retailer's stock after selling 6,273 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Ulta Beauty were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULTA. Mackenzie Financial Corp boosted its stake in Ulta Beauty by 12.7% during the 4th quarter. Mackenzie Financial Corp now owns 13,958 shares of the specialty retailer's stock valued at $6,071,000 after purchasing an additional 1,575 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Ulta Beauty in the fourth quarter valued at $6,565,000. MassMutual Private Wealth & Trust FSB boosted its stake in Ulta Beauty by 35.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 118 shares of the specialty retailer's stock valued at $43,000 after buying an additional 31 shares in the last quarter. Rempart Asset Management Inc. grew its holdings in Ulta Beauty by 3.0% during the first quarter. Rempart Asset Management Inc. now owns 38,975 shares of the specialty retailer's stock worth $14,286,000 after acquiring an additional 1,118 shares during the period. Finally, Kera Capital Partners Inc. bought a new stake in Ulta Beauty in the first quarter worth about $268,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $539.48 on Friday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $540.19. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 2.95 and a beta of 1.06. The company has a 50 day moving average price of $517.83 and a 200 day moving average price of $448.02.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.03 by $0.75. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.30 earnings per share. Equities analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Oppenheimer upped their price target on shares of Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. UBS Group increased their target price on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Piper Sandler began coverage on shares of Ulta Beauty in a research report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 price target on the stock. Jefferies Financial Group upped their price target on Ulta Beauty from $425.00 to $550.00 and gave the company a "hold" rating in a report on Tuesday, August 26th. Finally, Morgan Stanley raised their price objective on Ulta Beauty from $550.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $544.20.

Insider Transactions at Ulta Beauty

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

About Ulta Beauty

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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