Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Ulta Beauty Inc. $ULTA

by · The Cerbat Gem

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA – Free Report) by 5.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 100,172 shares of the specialty retailer’s stock after acquiring an additional 4,893 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ulta Beauty were worth $46,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hemington Wealth Management lifted its holdings in shares of Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Ulta Beauty in the 1st quarter valued at $36,000. Costello Asset Management INC bought a new stake in Ulta Beauty in the 1st quarter valued at $37,000. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 66 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of Ulta Beauty during the 2nd quarter valued at about $52,000. Institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Ulta Beauty from $575.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Cowen restated a “hold” rating on shares of Ulta Beauty in a report on Friday, August 29th. Piper Sandler started coverage on Ulta Beauty in a research note on Thursday, September 4th. They issued an “overweight” rating and a $590.00 price objective on the stock. Oppenheimer upped their price objective on Ulta Beauty from $510.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group increased their target price on Ulta Beauty from $650.00 to $653.00 and gave the company a “buy” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $550.38.

View Our Latest Stock Report on ULTA

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $516.56 on Tuesday. The firm has a market capitalization of $23.16 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.85 and a beta of 1.05. The business has a 50 day simple moving average of $531.04 and a 200-day simple moving average of $489.86. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $572.23.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $5.30 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ulta Beauty 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 transaction, the director 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 legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by company insiders.

Ulta Beauty Profile

(Free Report)

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.

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