SouthState Corp Boosts Holdings in Ulta Beauty Inc. $ULTA

SouthState Corp boosted its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,180 shares of the specialty retailer’s stock after buying an additional 540 shares during the quarter. SouthState Corp’s holdings in Ulta Beauty were worth $4,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. J. Safra Sarasin Holding AG raised its holdings in Ulta Beauty by 167.8% in the second quarter. J. Safra Sarasin Holding AG now owns 4,513 shares of the specialty retailer’s stock worth $2,111,000 after purchasing an additional 2,828 shares in the last quarter. Ascent Group LLC bought a new position in Ulta Beauty in the second quarter worth about $395,000. Concurrent Investment Advisors LLC bought a new position in Ulta Beauty in the first quarter worth about $201,000. Allegiance Financial Group Advisory Services LLC bought a new position in Ulta Beauty in the second quarter worth about $306,000. Finally, waypoint wealth counsel bought a new position in Ulta Beauty in the second quarter worth about $246,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Stock Up 1.0%

Shares of NASDAQ ULTA opened at $521.82 on Thursday. The business’s 50 day moving average price is $530.48 and its 200 day moving average price is $486.18. The firm has a market cap of $23.40 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.84 and a beta of 1.05. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23.

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

Insider Buying and Selling

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

ULTA has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Raymond James Financial restated an “outperform” rating and set a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. Bank of America boosted their price target on Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Evercore ISI boosted their price target on Ulta Beauty from $595.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Citigroup boosted their price target on Ulta Beauty from $450.00 to $550.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

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.