Oppenheimer Asset Management Inc. Grows Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Oppenheimer Asset Management Inc. grew its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 5.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,779 shares of the specialty retailer’s stock after purchasing an additional 181 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ulta Beauty were worth $1,458,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Avantax Advisory Services Inc. increased its stake in shares of Ulta Beauty by 6.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,227 shares of the specialty retailer’s stock worth $601,000 after buying an additional 77 shares during the last quarter. Norges Bank acquired a new position in Ulta Beauty during the 4th quarter worth $263,192,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ulta Beauty in the 4th quarter worth about $870,000. PNC Financial Services Group Inc. raised its stake in shares of Ulta Beauty by 39.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 26,323 shares of the specialty retailer’s stock valued at $12,898,000 after purchasing an additional 7,425 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its position in shares of Ulta Beauty by 14.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,213 shares of the specialty retailer’s stock worth $594,000 after purchasing an additional 151 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $402.72 on Thursday. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Ulta Beauty, Inc. has a 1 year low of $318.17 and a 1 year high of $574.76. The firm’s 50 day moving average price is $368.18 and its two-hundred day moving average price is $410.00.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.02 EPS. As a group, equities analysts predict that Ulta Beauty, Inc. will post 23.21 EPS for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction dated 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 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 is available through the SEC website. In other news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ULTA. Wells Fargo & Company cut their price objective on Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, August 30th. Stifel Nicolaus decreased their price objective on shares of Ulta Beauty from $475.00 to $385.00 and set a “hold” rating for the company in a report on Friday, August 30th. DA Davidson dropped their target price on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ulta Beauty from $552.00 to $448.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $356.00 price objective (down previously from $404.00) on shares of Ulta Beauty in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $425.29.

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.