Ulta Beauty Inc. $ULTA Shares Acquired by Bar Harbor Wealth Management

Bar Harbor Wealth Management lifted its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,973 shares of the specialty retailer’s stock after acquiring an additional 324 shares during the period. Bar Harbor Wealth Management’s holdings in Ulta Beauty were worth $1,859,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock valued at $449,021,000 after acquiring an additional 688,267 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer’s stock worth $341,453,000 after buying an additional 366,147 shares during the period. JPMorgan Chase & Co. lifted its position in Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock worth $334,871,000 after buying an additional 410,900 shares during the period. Invesco Ltd. lifted its position in Ulta Beauty by 10.9% during the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock worth $298,231,000 after buying an additional 79,666 shares during the period. Finally, Swedbank AB lifted its position in Ulta Beauty by 17.4% during the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock worth $254,985,000 after buying an additional 80,734 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ULTA has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Ulta Beauty from $425.00 to $550.00 and gave the stock a “hold” rating in a research report on Tuesday, August 26th. Piper Sandler initiated coverage on Ulta Beauty in a research report on Thursday, September 4th. They set an “overweight” rating and a $590.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Wall Street Zen downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Citigroup increased their target price on Ulta Beauty from $450.00 to $550.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $549.21.

Ulta Beauty Stock Up 1.6%

Shares of NASDAQ ULTA opened at $565.81 on Thursday. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $572.23. The business has a 50 day moving average price of $526.47 and a two-hundred day moving average price of $461.35. The firm has a market cap of $25.37 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 3.07 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $5.30 EPS. Ulta Beauty’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

About Ulta Beauty

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.