Armstrong Advisory Group Inc. Cuts Holdings in Ulta Beauty Inc. $ULTA

Armstrong Advisory Group Inc. decreased its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 56.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90 shares of the specialty retailer’s stock after selling 116 shares during the period. Armstrong Advisory Group Inc.’s holdings in Ulta Beauty were worth $42,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ulta Beauty by 17.9% during the first 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 position in 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 acquiring an additional 152 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Ulta Beauty in the first quarter worth about $201,000. Farther Finance Advisors LLC grew its position in Ulta Beauty by 128.9% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer’s stock worth $275,000 after acquiring an additional 415 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC purchased a new position in Ulta Beauty in the first quarter worth about $250,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ULTA. JPMorgan Chase & Co. lifted their price target on Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Bank of America lifted their price target on Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Barclays lifted their price target on Ulta Beauty from $589.00 to $617.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group boosted their target price on Ulta Beauty from $425.00 to $550.00 and gave the company a “hold” rating in a research report on Tuesday, August 26th. Finally, Evercore ISI boosted their target price on Ulta Beauty from $595.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $543.13.

Ulta Beauty Trading Up 1.2%

ULTA opened at $524.60 on Wednesday. The firm has a market cap of $23.52 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.85 and a beta of 1.06. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $539.00. The stock has a fifty day moving average price of $515.83 and a 200-day moving average price of $446.13.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $0.75. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $5.30 earnings per share. On average, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the transaction, the director directly owned 2,263 shares of the company’s stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Ulta Beauty Company 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.