Verition Fund Management LLC lifted its stake in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 200.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,531 shares of the specialty retailer’s stock after buying an additional 11,036 shares during the quarter. Verition Fund Management LLC’s holdings in Ulta Beauty were worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in ULTA. Captrust Financial Advisors purchased a new position in shares of Ulta Beauty during the fourth quarter valued at about $153,000. Optimum Investment Advisors purchased a new position in shares of Ulta Beauty during the first quarter valued at about $163,000. ACG Wealth purchased a new position in shares of Ulta Beauty during the fourth quarter valued at about $216,000. Sapphire Star Partners LP purchased a new position in shares of Ulta Beauty during the fourth quarter valued at about $224,000. Finally, BancorpSouth Bank purchased a new position in shares of Ulta Beauty during the fourth quarter valued at about $230,000. Institutional investors own 91.00% of the company’s stock.
In other news, Director Vanessa Ames Wittman sold 600 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $249.94, for a total transaction of $149,964.00. Following the sale, the director now owns 2,785 shares in the company, valued at $696,082.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey J. Childs sold 8,000 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $251.83, for a total transaction of $2,014,640.00. Following the sale, the insider now owns 13,534 shares in the company, valued at approximately $3,408,267.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,318 shares of company stock worth $25,421,438. Corporate insiders own 5.60% of the company’s stock.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, May 31st. The specialty retailer reported $2.70 EPS for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.22. Ulta Beauty had a net margin of 9.67% and a return on equity of 32.15%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. sell-side analysts forecast that Ulta Beauty Inc will post 10.84 EPS for the current year.
Ulta Beauty announced that its board has approved a share buyback plan on Thursday, March 15th that permits the company to buyback $625.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
ULTA has been the topic of several research analyst reports. Zacks Investment Research cut shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BidaskClub cut shares of Ulta Beauty from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 11th. Guggenheim upgraded shares of Ulta Beauty from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Monday, April 16th. Buckingham Research set a $270.00 price target on shares of Ulta Beauty and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, Vetr cut shares of Ulta Beauty from a “buy” rating to a “hold” rating and set a $206.73 price target on the stock. in a research report on Monday, March 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $263.38.
Ulta Beauty Company 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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