Glenmede Trust Co. NA grew its position in shares of Ulta Beauty (NASDAQ:ULTA) by 3,469.4% in the fourth quarter, HoldingsChannel reports. The firm owned 12,243 shares of the specialty retailer’s stock after purchasing an additional 11,900 shares during the period. Glenmede Trust Co. NA’s holdings in Ulta Beauty were worth $2,738,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in shares of Ulta Beauty during the 4th quarter valued at $62,331,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Ulta Beauty by 31.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 198,278 shares of the specialty retailer’s stock worth $44,823,000 after acquiring an additional 47,253 shares during the last quarter. First American Trust FSB bought a new stake in shares of Ulta Beauty during the 4th quarter worth $2,869,000. Jennison Associates LLC lifted its holdings in shares of Ulta Beauty by 12.1% during the 4th quarter. Jennison Associates LLC now owns 721,677 shares of the specialty retailer’s stock worth $161,410,000 after acquiring an additional 77,742 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Ulta Beauty by 48.3% during the 4th quarter. Eaton Vance Management now owns 133,477 shares of the specialty retailer’s stock worth $29,853,000 after acquiring an additional 43,459 shares during the last quarter. Hedge funds and other institutional investors own 91.94% of the company’s stock.
ULTA has been the subject of a number of research analyst reports. KeyCorp set a $270.00 price objective on shares of Ulta Beauty and gave the stock a “buy” rating in a report on Monday, November 27th. Buckingham Research raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Tuesday, December 19th. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating and set a $230.00 price objective on shares of Ulta Beauty in a report on Monday, January 22nd. Loop Capital set a $300.00 price objective on shares of Ulta Beauty and gave the stock a “buy” rating in a report on Monday, November 27th. Finally, Wells Fargo set a $297.00 price objective on shares of Ulta Beauty and gave the stock a “buy” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $250.64.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.02). The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ulta Beauty had a return on equity of 30.40% and a net margin of 9.44%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 earnings per share. equities analysts anticipate that Ulta Beauty will post 10.74 EPS for the current fiscal year.
Ulta Beauty declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 15th that permits the company to buyback $625.00 million in shares. This buyback authorization permits the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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About Ulta Beauty
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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