PNC Financial Services Group Inc. Boosts Stake in Ulta Beauty Inc. $ULTA

PNC Financial Services Group Inc. grew its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,611 shares of the specialty retailer’s stock after purchasing an additional 504 shares during the period. PNC Financial Services Group Inc.’s holdings in Ulta Beauty were worth $8,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC boosted its stake in Ulta Beauty by 50.3% during the first quarter. Signaturefd LLC now owns 669 shares of the specialty retailer’s stock worth $245,000 after buying an additional 224 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Ulta Beauty by 32.5% in the 1st quarter. Wealthfront Advisers LLC now owns 2,625 shares of the specialty retailer’s stock valued at $962,000 after acquiring an additional 644 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Ulta Beauty by 178.4% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 66 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Ulta Beauty by 3.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $1,199,000 after purchasing an additional 101 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Ulta Beauty by 4.9% during the 1st quarter. Private Advisor Group LLC now owns 10,554 shares of the specialty retailer’s stock worth $3,868,000 after purchasing an additional 491 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ULTA. Cowen restated a “hold” rating on shares of Ulta Beauty in a research note on Friday, August 29th. Loop Capital reiterated a “hold” rating and issued a $510.00 price objective on shares of Ulta Beauty in a report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Evercore ISI lifted 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. Finally, UBS Group boosted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.38.

Ulta Beauty Price Performance

ULTA stock opened at $529.34 on Monday. The business’s 50-day moving average is $531.31 and its two-hundred day moving average is $493.84. The firm has a market capitalization of $23.74 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.91 and a beta of 1.05. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $572.23.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, topping 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 net margin of 10.31% and a return on equity of 48.78%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.30 earnings per share. On average, analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate 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.