Geneos Wealth Management Inc. Increases Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Geneos Wealth Management Inc. lifted its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,799 shares of the specialty retailer’s stock after buying an additional 202 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Ulta Beauty were worth $3,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. boosted its stake in Ulta Beauty by 120.2% during the fourth quarter. 1832 Asset Management L.P. now owns 14,448 shares of the specialty retailer’s stock valued at $7,079,000 after buying an additional 7,887 shares during the last quarter. Duality Advisers LP increased its position in Ulta Beauty by 92.8% in the first quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock worth $3,806,000 after purchasing an additional 3,504 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Ulta Beauty by 6.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 27,037 shares of the specialty retailer’s stock valued at $13,248,000 after purchasing an additional 1,662 shares in the last quarter. Warther Private Wealth LLC bought a new position in Ulta Beauty during the fourth quarter valued at $6,023,000. Finally, Broad Bay Capital Management LP purchased a new position in shares of Ulta Beauty in the 4th quarter worth $10,412,000. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Up 0.4 %

Shares of ULTA traded up $1.35 during mid-day trading on Friday, hitting $375.61. 250,494 shares of the company traded hands, compared to its average volume of 876,889. The business has a 50 day moving average of $374.12 and a 200 day moving average of $432.18. The company has a market capitalization of $17.92 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company earned $6.88 EPS. Ulta Beauty’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Ulta Beauty, Inc. will post 25.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ULTA. Oppenheimer reaffirmed an “outperform” rating and issued a $450.00 price objective on shares of Ulta Beauty in a research note on Thursday, August 15th. Piper Sandler lowered shares of Ulta Beauty from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $494.00 to $404.00 in a research note on Wednesday, July 24th. Wells Fargo & Company reduced their target price on shares of Ulta Beauty from $350.00 to $325.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus dropped their price target on shares of Ulta Beauty from $565.00 to $475.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Finally, StockNews.com raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $492.00.

Insider Buying and Selling

In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the transaction, the director now owns 2,017 shares in the company, valued at $786,791.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the transaction, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now owns 6,801 shares in the company, valued at approximately $2,643,412.68. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

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.