Pinnacle Financial Partners Inc. lessened its holdings in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 12.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,254 shares of the specialty retailer’s stock after selling 186 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Ulta Beauty were worth $435,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ULTA. FMR LLC increased its position in shares of Ulta Beauty by 15.3% during the 1st quarter. FMR LLC now owns 2,262,297 shares of the specialty retailer’s stock valued at $788,932,000 after purchasing an additional 300,904 shares during the period. Renaissance Technologies LLC grew its holdings in Ulta Beauty by 93.5% during the second quarter. Renaissance Technologies LLC now owns 329,100 shares of the specialty retailer’s stock worth $114,161,000 after acquiring an additional 159,000 shares during the period. Wells Fargo & Company MN grew its holdings in Ulta Beauty by 13.8% during the second quarter. Wells Fargo & Company MN now owns 965,338 shares of the specialty retailer’s stock worth $334,867,000 after acquiring an additional 117,270 shares during the period. Janus Henderson Group PLC raised its position in Ulta Beauty by 22.9% in the second quarter. Janus Henderson Group PLC now owns 406,941 shares of the specialty retailer’s stock worth $141,165,000 after acquiring an additional 75,880 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Ulta Beauty by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 838,542 shares of the specialty retailer’s stock worth $204,993,000 after acquiring an additional 62,309 shares in the last quarter. Institutional investors own 88.69% of the company’s stock.
Ulta Beauty stock traded down $3.16 during midday trading on Wednesday, reaching $228.26. The stock had a trading volume of 45,576 shares, compared to its average volume of 2,301,949. The firm’s fifty day simple moving average is $312.59 and its two-hundred day simple moving average is $333.88. Ulta Beauty Inc has a twelve month low of $224.43 and a twelve month high of $368.83. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.80 and a quick ratio of 0.57. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.10 and a beta of 1.07.
Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.03). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. Ulta Beauty had a net margin of 9.86% and a return on equity of 36.87%. Ulta Beauty’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $2.46 earnings per share. As a group, sell-side analysts predict that Ulta Beauty Inc will post 11.81 EPS for the current fiscal year.
In related news, Director Sally E. Blount sold 315 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $359.28, for a total value of $113,173.20. Following the completion of the sale, the director now directly owns 989 shares of the company’s stock, valued at approximately $355,327.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lorna Nagler sold 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $354.03, for a total value of $708,060.00. Following the completion of the sale, the director now directly owns 8,368 shares of the company’s stock, valued at $2,962,523.04. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
ULTA has been the topic of several recent research reports. Credit Suisse Group lowered their price objective on shares of Ulta Beauty from $380.00 to $286.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Guggenheim set a $325.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Friday, August 30th. Deutsche Bank increased their target price on shares of Ulta Beauty from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Monday, June 3rd. ValuEngine cut shares of Ulta Beauty from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Finally, Oppenheimer decreased their price target on shares of Ulta Beauty from $390.00 to $310.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $303.10.
About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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