CIBC World Markets Inc. bought a new position in shares of Ulta Beauty Inc (NASDAQ:ULTA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,623 shares of the specialty retailer’s stock, valued at approximately $536,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Ulta Beauty during the 4th quarter worth about $153,000. Optimum Investment Advisors acquired a new stake in shares of Ulta Beauty during the 1st quarter worth about $163,000. Sapphire Star Partners LP acquired a new stake in shares of Ulta Beauty during the 4th quarter worth about $224,000. Delpha Capital Management LLC lifted its stake in shares of Ulta Beauty by 250.8% during the 1st quarter. Delpha Capital Management LLC now owns 1,140 shares of the specialty retailer’s stock worth $233,000 after buying an additional 815 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in shares of Ulta Beauty during the 4th quarter worth about $265,000. Institutional investors own 90.10% of the company’s stock.
A number of research firms have recently issued reports on ULTA. BMO Capital Markets raised their target price on shares of Ulta Beauty from $220.00 to $230.00 and gave the stock a “market perform” rating in a research note on Friday, June 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $282.00 target price (down previously from $291.00) on shares of Ulta Beauty in a research note on Friday, March 16th. BidaskClub upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Piper Jaffray Companies set a $268.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research note on Tuesday, May 29th. Finally, Jefferies Financial Group set a $260.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research note on Friday, March 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $264.96.
Shares of Ulta Beauty opened at $235.28 on Thursday, Marketbeat reports. The company has a market capitalization of $13.99 billion, a PE ratio of 28.83, a PEG ratio of 1.15 and a beta of 0.68. Ulta Beauty Inc has a 12 month low of $187.96 and a 12 month high of $283.97.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 31st. The specialty retailer reported $2.70 EPS for the quarter, beating the 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 net margin of 9.67% and a return on equity of 32.15%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 EPS. sell-side analysts predict that Ulta Beauty Inc will post 10.84 earnings per share for the current fiscal year.
Ulta Beauty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 15th that authorizes the company to buyback $625.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Dennis K. Eck sold 22,000 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $216.82, for a total transaction of $4,770,040.00. Following the sale, the director now directly owns 427,333 shares of the company’s stock, valued at approximately $92,654,341.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lorna Nagler sold 3,000 shares of Ulta Beauty stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $228.35, for a total transaction of $685,050.00. Following the sale, the director now directly owns 8,336 shares in the company, valued at $1,903,525.60. The disclosure for this sale can be found here. Insiders sold a total of 105,432 shares of company stock valued at $25,661,967 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.
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.
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