Ulta Beauty, Inc. (NASDAQ:ULTA) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC raised its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 41.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,389 shares of the specialty retailer's stock after purchasing an additional 1,876 shares during the quarter. Stonegate Investment Group LLC's holdings in Ulta Beauty were worth $3,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Nordea Investment Management AB grew its position in shares of Ulta Beauty by 347.3% during the fourth quarter. Nordea Investment Management AB now owns 71,491 shares of the specialty retailer's stock worth $35,061,000 after buying an additional 55,508 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Ulta Beauty during the 4th quarter worth $1,810,000. Charles Schwab Investment Management Inc. increased its position in shares of Ulta Beauty by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 284,442 shares of the specialty retailer's stock worth $113,620,000 after purchasing an additional 2,126 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Ulta Beauty by 6.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,037 shares of the specialty retailer's stock valued at $13,248,000 after purchasing an additional 1,662 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Ulta Beauty by 3.4% during the fourth quarter. AdvisorNet Financial Inc now owns 1,188 shares of the specialty retailer's stock worth $582,000 after purchasing an additional 39 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ULTA shares. Loop Capital upgraded Ulta Beauty from a "hold" rating to a "buy" rating and set a $540.00 price objective on the stock in a research note on Monday, April 8th. UBS Group lifted their price objective on shares of Ulta Beauty from $575.00 to $690.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Raymond James dropped their target price on shares of Ulta Beauty from $630.00 to $610.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 3rd. Oppenheimer reduced their price target on shares of Ulta Beauty from $600.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $548.05.

Insider Buying and Selling

In other news, COO Kecia Steelman sold 20,950 shares of the stock in a transaction 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 sale, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ulta Beauty news, COO Kecia Steelman sold 20,950 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the sale, the chief operating officer now directly owns 10,494 shares of the company's stock, valued at $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,552 shares of company stock worth $12,920,326. Corporate insiders own 0.34% of the company's stock.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA traded down $5.20 during trading on Tuesday, reaching $404.84. The company had a trading volume of 904,746 shares, compared to its average volume of 769,469. Ulta Beauty, Inc. has a twelve month low of $368.02 and a twelve month high of $574.76. The firm has a market capitalization of $19.41 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30. The firm's fifty day moving average is $495.01 and its 200 day moving average is $469.79.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results 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 return on equity of 61.64% and a net margin of 11.52%. The company had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.53 billion. During the same period last year, the firm earned $6.68 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Ulta Beauty, Inc. will post 26.55 earnings per share for the current fiscal year.

Ulta Beauty declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

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.

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