Seven Eight Capital LP Has $3.44 Million Stock Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Seven Eight Capital LP boosted its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 321.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,904 shares of the specialty retailer’s stock after acquiring an additional 6,791 shares during the period. Seven Eight Capital LP’s holdings in Ulta Beauty were worth $3,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 30 shares during the period. Vima LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth about $27,000. Riverview Trust Co bought a new stake in shares of Ulta Beauty in the 1st quarter valued at about $30,000. Sound Income Strategies LLC increased its stake in shares of Ulta Beauty by 490.0% in the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Ulta Beauty in the 1st quarter valued at approximately $31,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Trading Up 2.0 %

Shares of NASDAQ:ULTA opened at $397.00 on Wednesday. The stock has a market capitalization of $18.94 billion, a PE ratio of 15.48, a PEG ratio of 2.13 and a beta of 1.31. The firm has a 50 day moving average of $368.05 and a 200-day moving average of $410.05. Ulta Beauty, Inc. has a 12 month low of $318.17 and a 12 month high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company earned $6.02 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts predict that Ulta Beauty, Inc. will post 23.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Jodi J. Caro sold 650 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the transaction, the insider now owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the sale, the director now owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the sale, the insider now owns 6,801 shares in the company, valued at approximately $2,643,412.68. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Loop Capital dropped their price objective on Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets dropped their price target on Ulta Beauty from $500.00 to $385.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Telsey Advisory Group decreased their price objective on Ulta Beauty from $500.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Canaccord Genuity Group lowered their target price on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Oppenheimer cut their price target on shares of Ulta Beauty from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $425.29.

About Ulta Beauty

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.