North Growth Management Ltd. Grows Stock Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

North Growth Management Ltd. grew its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,000 shares of the specialty retailer's stock after acquiring an additional 3,000 shares during the quarter. Ulta Beauty accounts for 1.8% of North Growth Management Ltd.'s portfolio, making the stock its 24th biggest holding. North Growth Management Ltd. owned approximately 0.05% of Ulta Beauty worth $8,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cornerstone Investment Partners LLC boosted its holdings in Ulta Beauty by 3.9% during the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 25 shares during the period. RWA Wealth Partners LLC increased its stake in Ulta Beauty by 1.5% in the 4th quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer's stock worth $812,000 after buying an additional 28 shares during the period. Procyon Advisors LLC lifted its holdings in Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock valued at $259,000 after buying an additional 29 shares in the last quarter. Lido Advisors LLC boosted its position in Ulta Beauty by 5.0% in the 4th quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer's stock valued at $272,000 after buying an additional 30 shares during the period. Finally, Sagespring Wealth Partners LLC boosted its position in Ulta Beauty by 5.0% in the 1st quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock valued at $229,000 after buying an additional 30 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the sale, the insider now owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock traded down $7.07 during trading hours on Tuesday, reaching $464.49. 767,620 shares of the company were exchanged, compared to its average volume of 1,040,801. The firm has a market cap of $20.88 billion, a PE ratio of 18.14, a PEG ratio of 2.80 and a beta of 1.09. The stock's fifty day moving average is $419.35 and its 200 day moving average is $398.83. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter last year, the business posted $6.47 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ULTA shares. Loop Capital reaffirmed a "buy" rating and set a $510.00 price target (up previously from $480.00) on shares of Ulta Beauty in a research note on Monday, June 16th. Argus lowered Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. DA Davidson increased their price target on Ulta Beauty from $415.00 to $485.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. The Goldman Sachs Group upgraded Ulta Beauty from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $384.00 to $423.00 in a report on Tuesday, April 1st. Finally, BMO Capital Markets dropped their target price on shares of Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating on the stock in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $462.22.

Ulta Beauty Company Profile

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.