Douglas Lane & Associates LLC reduced its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,675 shares of the specialty retailer’s stock after selling 162 shares during the period. Douglas Lane & Associates LLC owned 0.21% of Ulta Beauty worth $36,691,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. boosted its position in Ulta Beauty by 276.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 807,092 shares of the specialty retailer’s stock valued at $231,766,000 after acquiring an additional 592,461 shares during the last quarter. Norges Bank bought a new stake in shares of Ulta Beauty during the 4th quarter valued at about $153,942,000. Junto Capital Management LP acquired a new stake in Ulta Beauty during the fourth quarter worth approximately $62,688,000. NN Investment Partners Holdings N.V. grew its stake in Ulta Beauty by 31.6% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 777,287 shares of the specialty retailer’s stock worth $223,206,000 after purchasing an additional 186,481 shares during the period. Finally, Boston Partners increased its holdings in Ulta Beauty by 54.3% in the fourth quarter. Boston Partners now owns 516,109 shares of the specialty retailer’s stock worth $148,206,000 after purchasing an additional 181,684 shares in the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on the stock. Citigroup downgraded shares of Ulta Beauty from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $290.00 to $320.00 in a research report on Wednesday, January 27th. BMO Capital Markets raised their target price on Ulta Beauty from $265.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 12th. Barclays increased their price target on Ulta Beauty from $298.00 to $361.00 and gave the stock an “overweight” rating in a report on Thursday, March 18th. Telsey Advisory Group lifted their price objective on shares of Ulta Beauty from $315.00 to $375.00 and gave the company an “outperform” rating in a report on Monday, March 8th. Finally, Oppenheimer restated a “buy” rating and issued a $360.00 target price on shares of Ulta Beauty in a report on Thursday, March 11th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $314.88.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Wednesday, March 10th. The specialty retailer reported $3.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $1.14. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Ulta Beauty had a net margin of 3.63% and a return on equity of 15.94%. Ulta Beauty’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.89 earnings per share. On average, analysts predict that Ulta Beauty, Inc. will post 3.94 earnings per share for the current fiscal year.
In related news, Director Charles Heilbronn sold 226,791 shares of the stock in a transaction on Friday, March 26th. The shares were sold at an average price of $304.23, for a total transaction of $68,996,625.93. Following the transaction, the director now owns 60,963 shares of the company’s stock, valued at approximately $18,546,773.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lorna Nagler sold 4,000 shares of Ulta Beauty stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $315.90, for a total transaction of $1,263,600.00. Following the completion of the transaction, the director now owns 10,963 shares in the company, valued at approximately $3,463,211.70. The disclosure for this sale can be found here. Insiders have sold 820,644 shares of company stock worth $256,177,793 in the last 90 days. Company insiders own 4.70% of the company’s stock.
Ulta Beauty Profile
Ulta Beauty, Inc operates as a retailer of beauty products in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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