Compound Global Advisors LLC Reduces Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Compound Global Advisors LLC decreased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,576 shares of the specialty retailer's stock after selling 7,903 shares during the period. Ulta Beauty accounts for approximately 1.6% of Compound Global Advisors LLC's portfolio, making the stock its 28th biggest holding. Compound Global Advisors LLC's holdings in Ulta Beauty were worth $8,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC purchased a new stake in Ulta Beauty in the 2nd quarter valued at $26,000. Ancora Advisors LLC purchased a new stake in shares of Ulta Beauty in the first quarter valued at about $31,000. Fortis Capital Advisors LLC acquired a new stake in shares of Ulta Beauty during the first quarter worth about $31,000. BKM Wealth Management LLC purchased a new position in shares of Ulta Beauty during the fourth quarter worth about $28,000. Finally, Carolinas Wealth Consulting LLC increased its position in Ulta Beauty by 106.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 62 shares of the specialty retailer's stock valued at $34,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

ULTA stock traded down $3.89 during midday trading on Friday, hitting $444.75. 1,230,784 shares of the stock were exchanged, compared to its average volume of 764,251. The stock's 50-day moving average price is $527.18 and its 200-day moving average price is $464.85. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.74 and a beta of 1.30. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the company posted $6.68 EPS. The business's revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that Ulta Beauty, Inc. will post 26.94 EPS for the current year.

Ulta Beauty announced that its Board of Directors has initiated a share repurchase program on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on ULTA. Telsey Advisory Group reaffirmed an "outperform" rating and set a $600.00 price objective on shares of Ulta Beauty in a research report on Friday, March 15th. Piper Sandler lifted their price objective on shares of Ulta Beauty from $635.00 to $665.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. BMO Capital Markets boosted their price objective on shares of Ulta Beauty from $485.00 to $540.00 and gave the company a "market perform" rating in a research note on Friday, March 15th. Raymond James reduced their target price on shares of Ulta Beauty from $630.00 to $610.00 and set a "strong-buy" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ulta Beauty from $535.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $575.45.

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the sale, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares in the company, valued at $876,222.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anita Jane Ryan sold 3,102 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold 24,552 shares of company stock valued at $12,920,326 over the last quarter. Corporate insiders own 0.34% of the company's stock.

Ulta Beauty Profile

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

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