SouthState Corp Boosts Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

SouthState Corp raised its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 2.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,983 shares of the specialty retailer’s stock after buying an additional 222 shares during the period. SouthState Corp’s holdings in Ulta Beauty were worth $3,106,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. LRI Investments LLC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $31,000. UMB Bank n.a. raised its position in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 30 shares during the period. Innealta Capital LLC purchased a new stake in shares of Ulta Beauty during the 2nd quarter worth about $32,000. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty during the 3rd quarter valued at about $32,000. Finally, Crewe Advisors LLC purchased a new position in shares of Ulta Beauty in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

ULTA has been the topic of several research analyst reports. Raymond James dropped their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group dropped their price target on shares of Ulta Beauty from $522.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. TD Cowen reduced their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company cut their target price on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, August 30th. Finally, BMO Capital Markets set a $385.00 price target on shares of Ulta Beauty in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $420.71.

Ulta Beauty Trading Down 3.2 %

ULTA stock opened at $353.35 on Tuesday. Ulta Beauty, Inc. has a 52 week low of $318.17 and a 52 week high of $574.76. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The firm’s 50-day moving average is $379.50 and its two-hundred day moving average is $378.71.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm posted $6.02 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

Ulta Beauty 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.