Venturi Wealth Management LLC Acquires New Holdings in Ulta Beauty Inc. $ULTA

Venturi Wealth Management LLC acquired a new stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 559 shares of the specialty retailer’s stock, valued at approximately $262,000.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Ulta Beauty during the first quarter valued at approximately $31,000. Rakuten Securities Inc. increased its holdings in Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. increased its holdings in Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 40 shares during the period. Ransom Advisory Ltd purchased a new position in Ulta Beauty in the first quarter worth $36,000. Finally, NBC Securities Inc. purchased a new position in Ulta Beauty in the first quarter worth $37,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group lifted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Citigroup lifted their price target on shares of Ulta Beauty from $450.00 to $550.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Robert W. Baird lifted their price target on shares of Ulta Beauty from $575.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Piper Sandler assumed coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They issued an “overweight” rating and a $590.00 price target on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of Ulta Beauty from $650.00 to $653.00 and gave the stock a “buy” rating in a report on Friday. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $549.33.

Insider Transactions at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Ulta Beauty Trading Down 2.1%

NASDAQ:ULTA opened at $549.28 on Friday. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $572.23. The firm has a fifty day simple moving average of $528.22 and a 200-day simple moving average of $463.92. The company has a market capitalization of $24.63 billion, a P/E ratio of 21.06, a PEG ratio of 3.09 and a beta of 1.08.

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

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.