GM Advisory Group LLC Purchases 1,973 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

GM Advisory Group LLC grew its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 35.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,483 shares of the specialty retailer’s stock after buying an additional 1,973 shares during the period. GM Advisory Group LLC’s holdings in Ulta Beauty were worth $2,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choreo LLC increased its position in Ulta Beauty by 71.7% during the second quarter. Choreo LLC now owns 2,868 shares of the specialty retailer’s stock worth $1,103,000 after acquiring an additional 1,198 shares during the period. 1832 Asset Management L.P. grew its position in shares of Ulta Beauty by 120.2% during the 4th quarter. 1832 Asset Management L.P. now owns 14,448 shares of the specialty retailer’s stock worth $7,079,000 after purchasing an additional 7,887 shares in the last quarter. Duality Advisers LP increased its holdings in shares of Ulta Beauty by 92.8% during the first quarter. Duality Advisers LP now owns 7,278 shares of the specialty retailer’s stock worth $3,806,000 after purchasing an additional 3,504 shares during the period. Broad Bay Capital Management LP acquired a new stake in shares of Ulta Beauty in the fourth quarter valued at approximately $10,412,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ulta Beauty by 10.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,799 shares of the specialty retailer’s stock valued at $46,954,000 after buying an additional 8,337 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lowered their price objective on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $356.00 price target (down previously from $404.00) on shares of Ulta Beauty in a research note on Friday, August 30th. BMO Capital Markets reduced their price objective on shares of Ulta Beauty from $500.00 to $385.00 and set a “market perform” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company dropped their target price on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, August 30th. Finally, B. Riley started coverage on shares of Ulta Beauty in a research note on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $425.29.

Insider Transactions at Ulta Beauty

In other news, insider Jodi J. Caro sold 650 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares in the company, valued at $2,643,412.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Catherine Ann Halligan sold 100 shares of the business’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 directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The sale 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 firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following 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. Corporate insiders own 0.39% of the company’s stock.

Ulta Beauty Stock Up 0.1 %

Shares of NASDAQ:ULTA opened at $403.29 on Friday. The firm has a market cap of $19.00 billion, a P/E ratio of 15.73, a P/E/G ratio of 2.22 and a beta of 1.31. Ulta Beauty, Inc. has a 12-month low of $318.17 and a 12-month high of $574.76. The business has a fifty day simple moving average of $368.23 and a 200 day simple moving average of $409.95.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data 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). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the business earned $6.02 earnings per share. Ulta Beauty’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Ulta Beauty, Inc. will post 23.21 EPS for the current year.

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.