Avaii Wealth Management LLC Trims Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Avaii Wealth Management LLC lowered its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 52.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 678 shares of the specialty retailer’s stock after selling 754 shares during the period. Avaii Wealth Management LLC’s holdings in Ulta Beauty were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ULTA. Capital World Investors acquired a new stake in shares of Ulta Beauty during the 4th quarter valued at about $430,674,000. Norges Bank acquired a new stake in Ulta Beauty in the 4th quarter worth about $239,432,000. Marshall Wace LLP boosted its holdings in Ulta Beauty by 10,336.7% in the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after buying an additional 454,711 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ulta Beauty by 38,770.6% in the 1st quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer’s stock worth $162,565,000 after buying an additional 442,372 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ulta Beauty in the 4th quarter worth about $73,780,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

ULTA opened at $459.17 on Friday. The business’s 50-day simple moving average is $405.37 and its 200-day simple moving average is $395.48. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $491.98. The stock has a market capitalization of $20.64 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm earned $6.47 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.

Insider Transactions at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ULTA shares. Morgan Stanley lifted their price objective on Ulta Beauty from $460.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Evercore ISI lifted their price objective on Ulta Beauty from $465.00 to $490.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Oppenheimer lifted their price objective on Ulta Beauty from $465.00 to $510.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. DA Davidson lifted their price objective on Ulta Beauty from $415.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Finally, Wells Fargo & Company boosted their target price on Ulta Beauty from $315.00 to $350.00 and gave the stock an “underweight” rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $460.91.

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.