Anchor Capital Advisors LLC acquired a new stake in Ulta Beauty Inc (NASDAQ:ULTA) during the first quarter, Holdings Channel reports. The institutional investor acquired 71,018 shares of the specialty retailer’s stock, valued at approximately $14,507,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $153,000. ACG Wealth purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $216,000. Sapphire Star Partners LP purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $224,000. BancorpSouth Bank purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $230,000. Finally, Bluestein R H & Co. purchased a new position in shares of Ulta Beauty in the fourth quarter valued at about $233,000. Hedge funds and other institutional investors own 89.84% of the company’s stock.
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A number of research firms have issued reports on ULTA. Zacks Investment Research upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a research report on Wednesday, May 16th. Deutsche Bank set a $244.00 price objective on shares of Ulta Beauty and gave the company a “hold” rating in a research report on Monday, May 7th. Oppenheimer upgraded shares of Ulta Beauty from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 15th. OTR Global upgraded shares of Ulta Beauty to a “positive” rating in a research report on Monday. Finally, Loop Capital set a $250.00 price objective on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Friday, March 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $257.96.
In other Ulta Beauty news, Director Lorna Nagler sold 3,000 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $228.35, for a total value of $685,050.00. Following the sale, the director now owns 8,336 shares in the company, valued at $1,903,525.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis K. Eck sold 22,000 shares of the company’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $216.82, for a total transaction of $4,770,040.00. Following the completion of the sale, the director now owns 427,333 shares in the company, valued at approximately $92,654,341.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,286 shares of company stock worth $8,826,129. Corporate insiders own 5.60% of the company’s stock.
Shares of ULTA opened at $252.69 on Wednesday. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. Ulta Beauty Inc has a fifty-two week low of $187.96 and a fifty-two week high of $314.86.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, March 15th. The specialty retailer reported $2.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.77 by ($0.02). The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ulta Beauty had a return on equity of 30.40% and a net margin of 9.44%. Ulta Beauty’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.24 EPS. equities analysts expect that Ulta Beauty Inc will post 10.77 EPS for the current year.
Ulta Beauty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 15th that permits the company to repurchase $625.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
About Ulta Beauty
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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