Bar Harbor Wealth Management Decreases Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Bar Harbor Wealth Management lowered its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 11.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,649 shares of the specialty retailer’s stock after selling 491 shares during the quarter. Bar Harbor Wealth Management’s holdings in Ulta Beauty were worth $1,338,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ULTA. Prestige Wealth Management Group LLC grew its holdings in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. American National Bank & Trust purchased a new position in Ulta Beauty during the 1st quarter valued at about $29,000. Edge Capital Group LLC purchased a new position in Ulta Beauty during the 4th quarter valued at about $33,000. NBC Securities Inc. purchased a new position in Ulta Beauty during the 1st quarter valued at about $37,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Ulta Beauty by 35.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 118 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $459.17 on Friday. The business’s 50 day simple moving average is $405.37 and its two-hundred day simple moving average is $395.48. The stock has a market capitalization of $20.64 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $491.98.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.47 EPS. Sell-side analysts expect that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 902 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now directly owns 7,632 shares of the company’s stock, valued at approximately $2,817,429.12. The trade was a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ULTA. Evercore ISI lifted their target price on Ulta Beauty from $465.00 to $490.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on Ulta Beauty from $460.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Stifel Nicolaus dropped their price target on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Raymond James reiterated an “outperform” rating and set a $500.00 price target (up previously from $450.00) on shares of Ulta Beauty in a research report on Friday, May 30th. Finally, Argus downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $460.91.

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.