SFE Investment Counsel Purchases New Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

SFE Investment Counsel acquired a new position in Ulta Beauty, Inc. (NASDAQ:ULTA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,205 shares of the specialty retailer’s stock, valued at approximately $465,000.

A number of other hedge funds have also recently added to or reduced their stakes in ULTA. Candriam S.C.A. increased its position in Ulta Beauty by 5.2% in the second quarter. Candriam S.C.A. now owns 25,138 shares of the specialty retailer’s stock worth $9,700,000 after buying an additional 1,253 shares during the period. Private Advisor Group LLC lifted its position in Ulta Beauty by 65.9% in the 2nd quarter. Private Advisor Group LLC now owns 10,022 shares of the specialty retailer’s stock valued at $3,867,000 after purchasing an additional 3,982 shares during the last quarter. Jensen Investment Management Inc. boosted its stake in Ulta Beauty by 16.2% during the 2nd quarter. Jensen Investment Management Inc. now owns 9,610 shares of the specialty retailer’s stock valued at $3,708,000 after purchasing an additional 1,340 shares during the period. Hendershot Investments Inc. boosted its stake in Ulta Beauty by 4.6% during the 2nd quarter. Hendershot Investments Inc. now owns 22,018 shares of the specialty retailer’s stock valued at $8,496,000 after purchasing an additional 959 shares during the period. Finally, National Bank of Canada FI grew its position in Ulta Beauty by 16.6% in the 2nd quarter. National Bank of Canada FI now owns 18,392 shares of the specialty retailer’s stock worth $7,065,000 after purchasing an additional 2,619 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $367.59 on Friday. The firm has a fifty day moving average of $369.52 and a 200-day moving average of $420.22. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 2.05 and a beta of 1.31. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. Ulta Beauty’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $6.02 EPS. On average, sell-side analysts predict that Ulta Beauty, Inc. will post 23.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ULTA. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Oppenheimer decreased their price target on Ulta Beauty from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. The Goldman Sachs Group cut their price objective on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Piper Sandler reiterated a “neutral” rating and issued a $356.00 price objective (down from $404.00) on shares of Ulta Beauty in a report on Friday, August 30th. Finally, Loop Capital cut their target price on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $430.74.

Insider Transactions at Ulta Beauty

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

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.