Riverhead Capital Management LLC cut its holdings in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 55.7% during the second quarter, HoldingsChannel.com reports. The fund owned 2,535 shares of the specialty retailer’s stock after selling 3,192 shares during the quarter. Riverhead Capital Management LLC’s holdings in Ulta Beauty were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in shares of Ulta Beauty in the second quarter valued at about $26,000. Next Capital Management LLC lifted its holdings in shares of Ulta Beauty by 206.7% in the 2nd quarter. Next Capital Management LLC now owns 92 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 62 shares during the period. NEXT Financial Group Inc boosted its stake in shares of Ulta Beauty by 42.0% in the second quarter. NEXT Financial Group Inc now owns 98 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Ulta Beauty during the second quarter worth $34,000. Finally, Bell Rock Capital LLC purchased a new position in Ulta Beauty in the second quarter worth $34,000. Hedge funds and other institutional investors own 88.69% of the company’s stock.

ULTA traded down $2.92 during midday trading on Wednesday, reaching $228.50. 367,578 shares of the company’s stock were exchanged, compared to its average volume of 2,301,949. Ulta Beauty Inc has a 1-year low of $224.43 and a 1-year high of $368.83. The stock has a market capitalization of $13.31 billion, a PE ratio of 21.06, a P/E/G ratio of 1.10 and a beta of 1.07. 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 business’s 50-day moving average price is $312.59 and its 200 day moving average price is $333.88.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $2.76 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.03). Ulta Beauty had a net margin of 9.86% and a return on equity of 36.87%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty Inc will post 11.81 EPS for the current fiscal year.

In other Ulta Beauty news, Director Sally E. Blount sold 315 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $359.28, for a total transaction of $113,173.20. Following the sale, the director now owns 989 shares in the company, valued at approximately $355,327.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lorna Nagler sold 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $354.03, for a total value of $708,060.00. Following the transaction, the director now directly owns 8,368 shares of the company’s stock, valued at approximately $2,962,523.04. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Several brokerages have commented on ULTA. Credit Suisse Group decreased their target price on shares of Ulta Beauty from $380.00 to $286.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. ValuEngine downgraded shares of Ulta Beauty from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. BidaskClub cut shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co downgraded shares of Ulta Beauty from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $350.00 to $235.00 in a report on Friday, August 30th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $330.00 target price (down from $375.00) on shares of Ulta Beauty 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 assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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