Sequoia Financial Advisors LLC Takes Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Sequoia Financial Advisors LLC purchased a new position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,693 shares of the specialty retailer's stock, valued at approximately $1,810,000.

Other institutional investors also recently bought and sold shares of the company. Schwartz Investment Counsel Inc. bought a new stake in shares of Ulta Beauty during the fourth quarter worth $551,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ulta Beauty during the fourth quarter worth $25,000. Eastern Bank lifted its position in shares of Ulta Beauty by 2.5% during the fourth quarter. Eastern Bank now owns 22,399 shares of the specialty retailer's stock worth $10,975,000 after purchasing an additional 550 shares during the last quarter. Cambiar Investors LLC lifted its position in shares of Ulta Beauty by 1.5% during the fourth quarter. Cambiar Investors LLC now owns 26,406 shares of the specialty retailer's stock worth $12,939,000 after purchasing an additional 379 shares during the last quarter. Finally, Meeder Advisory Services Inc. bought a new stake in shares of Ulta Beauty during the fourth quarter worth $221,000. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Stock Down 1.2 %

Shares of ULTA traded down $5.59 during mid-day trading on Friday, hitting $442.32. 487,251 shares of the company traded hands, compared to its average volume of 1,171,099. Ulta Beauty, Inc. has a 1-year low of $368.02 and a 1-year high of $574.76. The company has a market capitalization of $21.35 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The business has a 50 day moving average of $520.62 and a 200 day moving average of $467.21.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the company posted $6.68 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts expect that Ulta Beauty, Inc. will post 26.74 EPS for the current fiscal year.

Ulta Beauty announced that its board has approved a stock buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kecia Steelman sold 20,950 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,552 shares of company stock worth $12,920,326. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ULTA shares. Raymond James decreased their target price on Ulta Beauty from $630.00 to $610.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 3rd. DA Davidson reaffirmed a "buy" rating and issued a $595.00 price objective on shares of Ulta Beauty in a research note on Friday, March 15th. Morgan Stanley upped their price objective on shares of Ulta Beauty from $480.00 to $525.00 and gave the stock an "equal weight" rating in a research note on Friday, March 15th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $600.00 price objective on shares of Ulta Beauty in a research note on Friday, March 15th. Finally, Barclays upped their price objective on shares of Ulta Beauty from $583.00 to $612.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $570.70.

Ulta Beauty 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.