Ulta Beauty Inc. $ULTA Stock Position Trimmed by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP reduced its Ulta Beauty position by 80.2% in the second quarter, selling 3,223 shares and retaining 797 shares valued at approximately $359,000.
• Institutional ownership remains high at 90.39%, with BlackRock, Norges Bank, Bank of America and other major investors recently establishing or increasing positions.
• Ulta reported quarterly EPS of $6.55, beating estimates of $6.22, while revenue rose 8.9% year over year to $3.04 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $627.83.

Engineers Gate Manager LP cut its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 80.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 797 shares of the specialty retailer's stock after selling 3,223 shares during the period. Engineers Gate Manager LP's holdings in Ulta Beauty were worth $359,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Ulta Beauty during the 2nd quarter valued at approximately $1,815,712,000. Diamant Asset Management Inc. boosted its holdings in Ulta Beauty by 52,171.0% in the first quarter. Diamant Asset Management Inc. now owns 1,474,042 shares of the specialty retailer's stock valued at $77,050,000 after purchasing an additional 1,471,222 shares during the last quarter. Norges Bank purchased a new stake in Ulta Beauty in the fourth quarter valued at $430,963,000. Bank of America Corp DE acquired a new stake in Ulta Beauty during the 2nd quarter worth about $260,192,000. Finally, Legal & General Group Plc acquired a new stake in Ulta Beauty during the 2nd quarter worth about $161,600,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ulta Beauty

In related news, Director Lorna Nagler sold 600 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $537.31, for a total value of $322,386.00. Following the completion of the transaction, the director directly owned 7,168 shares of the company's stock, valued at approximately $3,851,438.08. This represents a 7.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kecia Steelman sold 2,000 shares of Ulta Beauty stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $545.88, for a total transaction of $1,091,760.00. Following the sale, the chief executive officer directly owned 40,489 shares in the company, valued at approximately $22,102,135.32. This trade represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

ULTA has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Ulta Beauty from $725.00 to $600.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Canaccord Genuity Group cut their target price on shares of Ulta Beauty from $799.00 to $731.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Raymond James Financial cut shares of Ulta Beauty from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, September 15th. Guggenheim started coverage on shares of Ulta Beauty in a report on Tuesday, September 15th. They set a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Ulta Beauty from $692.00 to $695.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Twenty-four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ulta Beauty has a consensus rating of "Moderate Buy" and an average target price of $627.83.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $548.78 on Friday. The stock has a market capitalization of $23.47 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.66 and a beta of 0.85. The company's fifty day moving average price is $528.81 and its 200 day moving average price is $516.06. Ulta Beauty Inc. has a 1 year low of $443.60 and a 1 year high of $714.97.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 27th. The specialty retailer reported $6.55 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $0.33. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.99 billion. Ulta Beauty had a net margin of 9.34% and a return on equity of 45.40%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.78 earnings per share. Ulta Beauty has set its FY 2026 guidance at 28.700-29.000 EPS. Sell-side analysts predict that Ulta Beauty Inc. will post 28.94 EPS for the current year.

Ulta Beauty Company Profile

Ulta Beauty, Inc is a specialty beauty retailer operating under the Ulta Beauty brand. The company sells a broad selection of cosmetics, skincare, haircare, fragrance, bath and body products, and beauty tools across a range of price points. Its merchandise includes both established brands and private-label products, as well as prestige, mass-market and professional beauty offerings.

In addition to retail sales, Ulta Beauty provides services through salon locations within many of its stores, including hair, skin and brow services.

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