Bayforest Capital Ltd Sells 498 Shares of Ulta Beauty Inc. $ULTA

Bayforest Capital Ltd decreased its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 27.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,290 shares of the specialty retailer’s stock after selling 498 shares during the period. Bayforest Capital Ltd’s holdings in Ulta Beauty were worth $603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ULTA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ulta Beauty by 128.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock worth $449,021,000 after buying an additional 688,267 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer’s stock worth $341,453,000 after acquiring an additional 366,147 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock worth $334,871,000 after acquiring an additional 410,900 shares during the period. Invesco Ltd. grew its position in shares of Ulta Beauty by 10.9% in the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock valued at $298,231,000 after purchasing an additional 79,666 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Ulta Beauty by 17.4% during the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock worth $254,985,000 after purchasing an additional 80,734 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 0.4%

ULTA opened at $541.01 on Wednesday. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.99 and a beta of 1.08. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $572.23. The company has a 50-day simple moving average of $529.39 and a 200 day simple moving average of $467.02.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company earned $5.30 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ULTA shares. Citigroup boosted their price target on Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. UBS Group boosted their target price on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Cowen reiterated a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. Finally, Piper Sandler began coverage on shares of Ulta Beauty in a research report on Thursday, September 4th. They set an “overweight” rating and a $590.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $549.33.

Insiders Place Their Bets

In related 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 value of $264,215.00. Following the sale, the director directly owned 2,263 shares of the company’s stock, valued at $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

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.