Ulta Beauty Inc. $ULTA Stock Holdings Lowered by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA cut its Ulta Beauty stake by 9.9% in Q1, selling 23,463 shares and leaving it with 213,520 shares worth about $111.6 million.
• Ulta reported better-than-expected Q1 results, with earnings of $7.74 per share versus the $6.89 consensus and revenue of $3.16 billion, up 11.1% year over year.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus and an average price target of $638.09, even after some analysts trimmed their targets.

Pictet Asset Management Holding SA lessened its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,520 shares of the specialty retailer's stock after selling 23,463 shares during the period. Pictet Asset Management Holding SA owned approximately 0.49% of Ulta Beauty worth $111,599,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ULTA. Optimize Financial Inc grew its position in Ulta Beauty by 1.4% in the 4th quarter. Optimize Financial Inc now owns 1,176 shares of the specialty retailer's stock worth $711,000 after purchasing an additional 16 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ulta Beauty by 6.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the specialty retailer's stock valued at $160,000 after buying an additional 17 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Ulta Beauty by 13.1% during the fourth quarter. Sound Income Strategies LLC now owns 147 shares of the specialty retailer's stock valued at $98,000 after buying an additional 17 shares during the last quarter. Legacy Advisors LLC boosted its position in shares of Ulta Beauty by 1.2% during the fourth quarter. Legacy Advisors LLC now owns 1,543 shares of the specialty retailer's stock worth $934,000 after buying an additional 18 shares during the period. Finally, 180 Wealth Advisors LLC boosted its position in shares of Ulta Beauty by 2.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 996 shares of the specialty retailer's stock worth $602,000 after buying an additional 20 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ULTA. Evercore set a $635.00 target price on Ulta Beauty in a research report on Wednesday, June 3rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Ulta Beauty in a research report on Tuesday, March 10th. Morgan Stanley decreased their price target on Ulta Beauty from $700.00 to $630.00 and set an "overweight" rating for the company in a research note on Wednesday, June 3rd. Citigroup lowered their price target on Ulta Beauty from $600.00 to $560.00 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Finally, Jefferies Financial Group upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating and lifted their price objective for the company from $635.00 to $700.00 in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $638.09.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $488.45 on Monday. Ulta Beauty Inc. has a 12 month low of $448.57 and a 12 month high of $714.97. The company has a market capitalization of $21.00 billion, a P/E ratio of 18.31, a PEG ratio of 1.52 and a beta of 0.86. The company's 50 day simple moving average is $503.08 and its 200 day simple moving average is $577.40.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The specialty retailer reported $7.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.89 by $0.85. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.12 billion. Ulta Beauty had a net margin of 9.36% and a return on equity of 44.77%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $6.70 earnings per share. Ulta Beauty has set its FY 2026 guidance at 28.360-28.800 EPS. On average, analysts anticipate that Ulta Beauty Inc. will post 28.76 earnings per share for the current year.

Insider Activity at Ulta Beauty

In other news, Director George R. Mrkonic, Jr. sold 383 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $475.84, for a total transaction of $182,246.72. Following the completion of the sale, the director directly owned 2,404 shares of the company's stock, valued at $1,143,919.36. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.39% of the company's stock.

About Ulta Beauty

Ulta Beauty, Inc NASDAQ: ULTA is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer's product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.

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