Westpac Banking Corp Sells 14,548 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Westpac Banking Corp lowered its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 91.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,409 shares of the specialty retailer’s stock after selling 14,548 shares during the quarter. Westpac Banking Corp’s holdings in Ulta Beauty were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ULTA. WealthPlan Investment Management LLC acquired a new position in Ulta Beauty in the 2nd quarter valued at $26,000. BOKF NA acquired a new position in Ulta Beauty in the 1st quarter valued at $30,000. Ancora Advisors LLC acquired a new position in Ulta Beauty in the 1st quarter valued at $31,000. Fortis Capital Advisors LLC acquired a new position in Ulta Beauty in the 1st quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC grew its stake in Ulta Beauty by 106.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 62 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 32 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $409.27 on Friday. The stock has a market cap of $20.15 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.79 and a beta of 1.36. The firm has a 50 day moving average price of $392.95 and a 200 day moving average price of $433.77. Ulta Beauty, Inc. has a 52-week low of $368.02 and a 52-week high of $556.60.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.85 by $0.17. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Ulta Beauty had a net margin of 11.77% and a return on equity of 63.51%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.70 earnings per share. Analysts predict that Ulta Beauty, Inc. will post 25.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ULTA has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Ulta Beauty from $575.00 to $540.00 in a research report on Tuesday, October 10th. Oppenheimer reaffirmed an “outperform” rating and set a $540.00 price objective on shares of Ulta Beauty in a report on Friday, August 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ulta Beauty from $570.00 to $571.00 and gave the stock a “buy” rating in a report on Friday, August 25th. StockNews.com began coverage on shares of Ulta Beauty in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Barclays reduced their price objective on shares of Ulta Beauty from $600.00 to $587.00 in a report on Sunday, August 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of “Moderate Buy” and an average target price of $530.35.

Ulta Beauty Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.