State of New Jersey Common Pension Fund D Has $5.99 Million Stock Position in Ulta Beauty Inc. $ULTA

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Ulta Beauty by 10.6%, now holding 16,337 shares valued at approximately $5.99 million.
• Various analysts have updated their ratings for Ulta Beauty, with one downgrade to "hold" and price targets ranging from $437.00 to $600.00 after recent performance.
• Ulta Beauty reported earnings of $6.70 per share, exceeding expectations and showing a quarterly revenue increase of 4.5% compared to last year.

State of New Jersey Common Pension Fund D cut its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,337 shares of the specialty retailer's stock after selling 1,931 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ulta Beauty were worth $5,988,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. American National Bank & Trust purchased a new stake in shares of Ulta Beauty in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Ulta Beauty in the first quarter worth approximately $31,000. Rakuten Securities Inc. grew its position in Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 40 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Ulta Beauty during the first quarter valued at approximately $37,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Stock Up 1.8%

Shares of ULTA traded up $9.32 during trading hours on Friday, reaching $529.50. 624,262 shares of the company traded hands, compared to its average volume of 555,550. The stock has a fifty day simple moving average of $494.13 and a 200 day simple moving average of $422.14. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $534.10. The stock has a market capitalization of $23.80 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 3.13 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the business earned $6.47 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. Research analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on ULTA shares. Telsey Advisory Group reiterated an "outperform" rating and set a $520.00 price objective on shares of Ulta Beauty in a research report on Friday, July 11th. DA Davidson increased their price target on shares of Ulta Beauty from $550.00 to $585.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. UBS Group raised their price objective on shares of Ulta Beauty from $525.00 to $640.00 and gave the stock a "buy" rating in a research note on Thursday. Canaccord Genuity Group increased their target price on Ulta Beauty from $542.00 to $600.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised their price objective on Ulta Beauty from $350.00 to $400.00 and gave the company an "underweight" rating in a report on Friday, August 15th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ulta Beauty has an average rating of "Hold" and a consensus price target of $487.96.

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.