Russell Investments Group Ltd. Trims Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Russell Investments Group Ltd. cut its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,423 shares of the specialty retailer’s stock after selling 9,108 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Ulta Beauty worth $21,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Ulta Beauty by 3,128.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,374,895 shares of the specialty retailer’s stock worth $39,384,000 after purchasing an additional 2,301,338 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Ulta Beauty by 99,896.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,028,927 shares of the specialty retailer’s stock worth $954,803,000 after purchasing an additional 2,026,898 shares in the last quarter. Jennison Associates LLC boosted its stake in Ulta Beauty by 260.1% in the 2nd quarter. Jennison Associates LLC now owns 1,404,684 shares of the specialty retailer’s stock worth $661,037,000 after purchasing an additional 1,014,560 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Ulta Beauty by 125.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock worth $717,932,000 after purchasing an additional 852,258 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Ulta Beauty by 69.7% in the 4th quarter. Morgan Stanley now owns 1,133,168 shares of the specialty retailer’s stock worth $531,535,000 after purchasing an additional 465,616 shares in the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Trading Down 0.9 %

Ulta Beauty stock opened at $405.61 on Tuesday. The firm has a 50 day moving average of $392.70 and a 200 day moving average of $431.69. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.79 and a beta of 1.36. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $556.60.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 24th. The specialty retailer reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.85 by $0.17. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 11.77% and a return on equity of 63.51%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.70 EPS. On average, analysts predict that Ulta Beauty, Inc. will post 25.45 EPS for the current year.

Analyst Upgrades and Downgrades

ULTA has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on shares of Ulta Beauty from $350.00 to $375.00 and gave the stock an “underweight” rating in a research note on Friday, August 25th. Morgan Stanley dropped their price target on shares of Ulta Beauty from $520.00 to $480.00 and set an “equal weight” rating on the stock in a research note on Monday, August 28th. Oppenheimer reiterated an “outperform” rating and issued a $540.00 price target on shares of Ulta Beauty in a research note on Friday, August 25th. Piper Sandler lowered their target price on shares of Ulta Beauty from $575.00 to $540.00 in a research note on Tuesday, October 10th. Finally, Robert W. Baird lowered their target price on shares of Ulta Beauty from $560.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ulta Beauty presently has an average rating of “Moderate Buy” and an average target price of $530.35.

Ulta Beauty Company Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.