Victory Capital Management Inc. Has $78.01 Million Stock Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Victory Capital Management Inc. raised its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 33.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,822 shares of the specialty retailer’s stock after buying an additional 53,769 shares during the period. Victory Capital Management Inc.’s holdings in Ulta Beauty were worth $78,008,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ULTA. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ulta Beauty by 17.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer’s stock valued at $2,190,000 after purchasing an additional 924 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Ulta Beauty by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer’s stock worth $435,000 after purchasing an additional 152 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Ulta Beauty in the 1st quarter valued at approximately $201,000. Farther Finance Advisors LLC grew its stake in shares of Ulta Beauty by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer’s stock worth $275,000 after purchasing an additional 415 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Ulta Beauty by 26.4% in the 4th quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer’s stock valued at $31,809,000 after purchasing an additional 15,258 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $490.07 on Friday. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $498.52. The stock’s fifty day moving average is $453.14 and its two-hundred day moving average is $404.89. The stock has a market cap of $22.03 billion, a PE ratio of 19.14, a P/E/G ratio of 2.94 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm posted $6.47 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ULTA. Canaccord Genuity Group boosted their target price on Ulta Beauty from $510.00 to $542.00 and gave the company a “buy” rating in a report on Friday, May 30th. Barclays lifted their target price on Ulta Beauty from $327.00 to $485.00 and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Morgan Stanley boosted their price objective on Ulta Beauty from $460.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Wells Fargo & Company raised their price target on Ulta Beauty from $315.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday, May 30th. Finally, Citigroup raised their target price on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $465.04.

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.