Chevy Chase Trust Holdings LLC Has $11.16 Million Stake in Ulta Beauty Inc. $ULTA

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Ulta Beauty Inc. by 1.9% in Q2, owning 23,848 shares valued at $11.16 million.
• Ulta Beauty reported a quarterly EPS of $5.78, exceeding analysts' expectations of $5.03, with a year-over-year revenue increase of 9.3%.
• Institutional investors currently own 90.39% of Ulta Beauty's stock, with several hedge funds significantly increasing their stakes in recent months.

Chevy Chase Trust Holdings LLC trimmed its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,848 shares of the specialty retailer's stock after selling 473 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Ulta Beauty worth $11,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ULTA. Price T Rowe Associates Inc. MD raised its stake in Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock worth $449,021,000 after acquiring an additional 688,267 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after acquiring an additional 410,900 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after acquiring an additional 366,147 shares in the last quarter. Pacer Advisors Inc. raised its stake in Ulta Beauty by 5,117.0% during the first quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock worth $80,753,000 after acquiring an additional 216,089 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Ulta Beauty by 237.7% during the first quarter. AQR Capital Management LLC now owns 270,420 shares of the specialty retailer's stock worth $96,674,000 after acquiring an additional 190,353 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 0.7%

Shares of ULTA stock opened at $533.51 on Monday. The stock has a 50-day moving average price of $531.17 and a 200 day moving average price of $471.12. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.94 and a beta of 1.08. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $572.23.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping analysts' consensus estimates of $5.03 by $0.75. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $5.30 earnings per share. Sell-side analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

ULTA has been the subject of several recent analyst reports. DA Davidson increased their price objective on Ulta Beauty from $585.00 to $625.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Raymond James Financial reiterated an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. Citigroup raised their target price on Ulta Beauty from $450.00 to $550.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Bank of America raised their target price on Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Robert W. Baird raised their target price on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $550.38.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the sale, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

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