Nemes Rush Group LLC Raises Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Nemes Rush Group LLC raised its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 3.0% in the second quarter, Holdings Channel reports. The institutional investor owned 5,876 shares of the specialty retailer’s stock after buying an additional 173 shares during the quarter. Nemes Rush Group LLC’s holdings in Ulta Beauty were worth $2,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares in the last quarter. Vima LLC purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $27,000. Riverview Trust Co bought a new position in Ulta Beauty in the 1st quarter valued at $30,000. Sound Income Strategies LLC grew its position in shares of Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Ulta Beauty in the first quarter worth $31,000. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $404.01 on Friday. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76. The company’s 50 day moving average price is $368.40 and its 200-day moving average price is $402.85. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.30 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share 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 analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company posted $6.02 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Ulta Beauty, Inc. will post 23.21 earnings per share for the current fiscal year.

Insider Activity at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $786,791.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ULTA has been the subject of several recent analyst reports. B. Riley began coverage on Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price for the company. Piper Sandler restated a “neutral” rating and issued a $356.00 price objective (down from $404.00) on shares of Ulta Beauty in a research 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 for the company in a research report on Friday, August 30th. Telsey Advisory Group cut their price target on shares of Ulta Beauty from $500.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Finally, UBS Group lowered their price objective on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $425.29.

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.