State of Tennessee Treasury Department lessened its stake in Ulta Beauty Inc (NASDAQ:ULTA) by 69.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,914 shares of the specialty retailer’s stock after selling 32,214 shares during the period. State of Tennessee Treasury Department’s holdings in Ulta Beauty were worth $2,842,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $153,000. Optimum Investment Advisors acquired a new position in shares of Ulta Beauty during the 1st quarter worth approximately $163,000. ACG Wealth acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $216,000. Sapphire Star Partners LP acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $224,000. Finally, BancorpSouth Bank acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
Shares of NASDAQ:ULTA opened at $248.29 on Wednesday. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 1.25 and a beta of 0.62. Ulta Beauty Inc has a 52-week low of $187.96 and a 52-week high of $303.51.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 31st. The specialty retailer reported $2.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.22. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Ulta Beauty had a return on equity of 32.15% and a net margin of 9.67%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 EPS. equities research analysts anticipate that Ulta Beauty Inc will post 10.84 earnings per share for the current year.
Ulta Beauty announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 15th that authorizes the company to repurchase $625.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on the company. Goldman Sachs Group downgraded Ulta Beauty from a “buy” rating to a “neutral” rating and upped their target price for the stock from $241.00 to $272.00 in a research note on Tuesday, June 5th. BidaskClub downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Credit Suisse Group upped their target price on Ulta Beauty from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. BMO Capital Markets upped their target price on Ulta Beauty from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Friday, June 1st. Finally, Zacks Investment Research downgraded Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Ulta Beauty presently has a consensus rating of “Buy” and an average target price of $263.38.
In other Ulta Beauty news, CEO Mary N. Dillon sold 16,286 shares of the company’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $206.99, for a total value of $3,371,039.14. Following the completion of the sale, the chief executive officer now directly owns 100,984 shares in the company, valued at approximately $20,902,678.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennis K. Eck sold 22,000 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $216.82, for a total value of $4,770,040.00. Following the completion of the sale, the director now owns 427,333 shares of the company’s stock, valued at $92,654,341.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,318 shares of company stock valued at $10,856,798. 5.60% of the stock is owned by company insiders.
Ulta Beauty Profile
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.
Want to see what other hedge funds are holding ULTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ulta Beauty Inc (NASDAQ:ULTA).
Receive News & Ratings for Ulta Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ulta Beauty and related companies with MarketBeat.com's FREE daily email newsletter.