Panagora Asset Management Inc. Boosts Stock Holdings in Ulta Beauty Inc. $ULTA

Panagora Asset Management Inc. grew its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 20.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,542 shares of the specialty retailer’s stock after purchasing an additional 1,298 shares during the period. Panagora Asset Management Inc.’s holdings in Ulta Beauty were worth $3,528,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ULTA. Hemington Wealth Management grew its position in Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Ulta Beauty in the 2nd quarter worth approximately $35,000. Ransom Advisory Ltd purchased a new position in shares of Ulta Beauty in the 1st quarter worth approximately $36,000. Costello Asset Management INC bought a new position in shares of Ulta Beauty in the first quarter valued at approximately $37,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Ulta Beauty during the second quarter valued at approximately $47,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ULTA shares. Jefferies Financial Group boosted their price objective on Ulta Beauty from $425.00 to $550.00 and gave the stock a “hold” rating in a research report on Tuesday, August 26th. Oppenheimer boosted their price target on shares of Ulta Beauty from $510.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Raymond James Financial restated an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Bank of America lifted their price objective on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Finally, Robert W. Baird increased their target price on shares of Ulta Beauty from $575.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Fourteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $549.83.

Ulta Beauty Stock Down 0.6%

NASDAQ ULTA opened at $544.52 on Thursday. The company has a market cap of $24.42 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 3.62 and a beta of 0.87. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23. The firm’s 50-day simple moving average is $531.56 and its two-hundred day simple moving average is $504.43.

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.