Farther Finance Advisors LLC Boosts Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Farther Finance Advisors LLC lifted its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 580.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 599 shares of the specialty retailer’s stock after purchasing an additional 511 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ulta Beauty were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. Vima LLC acquired a new position in shares of Ulta Beauty in the 4th quarter valued at about $27,000. Riverview Trust Co purchased a new stake in shares of Ulta Beauty in the first quarter worth about $30,000. Sound Income Strategies LLC grew its holdings in Ulta Beauty by 490.0% during the first quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 49 shares during the period. Finally, LRI Investments LLC purchased a new position in Ulta Beauty during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ULTA. Bank of America dropped their price objective on shares of 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 objective (down previously from $404.00) on shares of Ulta Beauty in a report on Friday, August 30th. Loop Capital lowered their target price on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday. DA Davidson cut their price target on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, BMO Capital Markets reduced their price target on Ulta Beauty from $500.00 to $385.00 and set a “market perform” rating for the company in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Ulta Beauty presently has an average rating of “Moderate Buy” and a consensus target price of $430.74.

Ulta Beauty Trading Up 1.0 %

Shares of ULTA stock opened at $367.59 on Friday. The company’s 50-day moving average price is $369.52 and its 200-day moving average price is $420.22. Ulta Beauty, Inc. has a twelve month low of $318.17 and a twelve month high of $574.76. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.05 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA) last announced 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). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business earned $6.02 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Ulta Beauty, Inc. will post 23.24 EPS for the current year.

Insider Activity

In related news, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were 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 in the company, valued at approximately $2,643,412.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jodi J. Caro sold 650 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares in the company, valued at approximately $786,791.36. The disclosure for this sale can be found here. Corporate insiders own 0.39% 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.