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

Seven Eight Capital LP grew its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 321.4% in the second quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULTA. UMB Bank n.a. increased its stake in Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares during the last quarter. Vima LLC purchased a new stake in Ulta Beauty during the fourth quarter worth about $27,000. Riverview Trust Co purchased a new position in Ulta Beauty in the first quarter valued at about $30,000. Sound Income Strategies LLC boosted its stake in Ulta Beauty by 490.0% in the first 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 bought a new position in shares of Ulta Beauty during the 1st quarter valued at approximately $31,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Stock Up 2.0 %

Shares of ULTA opened at $397.00 on Wednesday. The stock has a market capitalization of $18.94 billion, a P/E ratio of 15.48, a PEG ratio of 2.13 and a beta of 1.31. Ulta Beauty, Inc. has a twelve month low of $318.17 and a twelve month high of $574.76. The firm has a fifty day simple moving average of $368.05 and a two-hundred day simple moving average of $410.05.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. Ulta Beauty’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $6.02 earnings per share. Sell-side analysts expect that Ulta Beauty, Inc. will post 23.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ULTA. Stifel Nicolaus dropped their price objective on Ulta Beauty from $475.00 to $385.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. The Goldman Sachs Group cut their price target on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company lowered their price objective on Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, August 30th. Oppenheimer cut their target price on shares of Ulta Beauty from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Finally, Loop Capital lowered their price target on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $425.29.

Insiders Place Their Bets

In related news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total value of $39,008.00. Following the sale, the director now directly owns 2,017 shares of the company’s stock, valued at $786,791.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was 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 this link. Also, Director Catherine Ann Halligan sold 100 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were 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 $786,791.36. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

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.