Wallace Advisory Group LLC Makes New Investment in Ulta Beauty, Inc. (NASDAQ:ULTA)

Wallace Advisory Group LLC acquired a new stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 440 shares of the specialty retailer’s stock, valued at approximately $216,000.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its stake in Ulta Beauty by 3.9% during the third quarter. Northern Trust Corp now owns 575,658 shares of the specialty retailer’s stock worth $229,947,000 after buying an additional 21,828 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Ulta Beauty by 1,124.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,874 shares of the specialty retailer’s stock worth $749,000 after purchasing an additional 1,721 shares during the period. Cadence Bank grew its holdings in Ulta Beauty by 32.9% during the 3rd quarter. Cadence Bank now owns 1,662 shares of the specialty retailer’s stock valued at $664,000 after purchasing an additional 411 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Ulta Beauty by 48.6% in the third quarter. Parkside Financial Bank & Trust now owns 104 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 34 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $121,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ULTA has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. Oppenheimer cut their price target on shares of Ulta Beauty from $500.00 to $475.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. TD Cowen reduced their price target on shares of Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Jefferies Financial Group dropped their target price on shares of Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Finally, Raymond James lowered their price target on Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.30.

Ulta Beauty Trading Down 0.4 %

Shares of ULTA stock opened at $388.19 on Wednesday. The business’s fifty day simple moving average is $394.49 and its 200-day simple moving average is $464.88. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76. The company has a market cap of $18.52 billion, a PE ratio of 15.14, a PEG ratio of 1.70 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, topping the consensus estimate of $6.19 by $0.28. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.88 earnings per share. On average, equities analysts forecast that Ulta Beauty, Inc. will post 25.76 earnings per share for the current year.

Ulta Beauty announced that its board has approved a stock repurchase plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.