8,456 Shares in Ulta Beauty, Inc. (NASDAQ:ULTA) Bought by Channing Capital Management LLC

Channing Capital Management LLC purchased a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,456 shares of the specialty retailer's stock, valued at approximately $4,143,000.

Several other hedge funds have also recently added to or reduced their stakes in ULTA. Sheets Smith Wealth Management increased its holdings in Ulta Beauty by 6.7% during the 4th quarter. Sheets Smith Wealth Management now owns 20,072 shares of the specialty retailer's stock valued at $9,835,000 after purchasing an additional 1,253 shares in the last quarter. Evergreen Wealth Management LLC lifted its holdings in Ulta Beauty by 4.1% during the fourth quarter. Evergreen Wealth Management LLC now owns 1,448 shares of the specialty retailer's stock worth $710,000 after acquiring an additional 57 shares in the last quarter. National Bank of Canada FI lifted its holdings in Ulta Beauty by 39.5% during the fourth quarter. National Bank of Canada FI now owns 19,039 shares of the specialty retailer's stock worth $9,260,000 after acquiring an additional 5,391 shares in the last quarter. Avalon Trust Co lifted its holdings in Ulta Beauty by 0.8% during the fourth quarter. Avalon Trust Co now owns 34,085 shares of the specialty retailer's stock worth $16,701,000 after acquiring an additional 275 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of Ulta Beauty in the 4th quarter valued at about $288,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Down 0.6 %

ULTA traded down $2.51 during trading hours on Monday, reaching $394.88. 909,524 shares of the company's stock traded hands, compared to its average volume of 765,312. Ulta Beauty, Inc. has a 52-week low of $368.02 and a 52-week high of $574.76. The firm has a market capitalization of $18.93 billion, a PE ratio of 15.16, a PEG ratio of 1.63 and a beta of 1.36. The firm has a 50-day moving average price of $483.07 and a 200 day moving average price of $470.33.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, topping analysts' consensus estimates of $7.49 by $0.59. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.68 EPS. Equities analysts predict that Ulta Beauty, Inc. will post 26.55 EPS for the current fiscal year.

Ulta Beauty announced that its board has approved a stock buyback plan on Thursday, March 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ULTA shares. DA Davidson reaffirmed a "buy" rating and issued a $595.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. UBS Group upped their price target 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. Piper Sandler decreased their price objective on Ulta Beauty from $665.00 to $595.00 and set an "overweight" rating for the company in a report on Tuesday, April 9th. Evercore ISI dropped their price target on shares of Ulta Beauty from $656.00 to $635.00 and set an "outperform" rating on the stock in a research report on Friday, March 15th. Finally, Loop Capital upgraded Ulta Beauty from a "hold" rating to a "buy" rating and set a $540.00 target price for the company in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ulta Beauty has an average rating of "Moderate Buy" and an average target price of $548.05.

Insiders Place Their Bets

In other news, insider Anita Jane Ryan sold 3,102 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The stock was 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 $1,420,801.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the firm's 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 completion of the sale, the insider now owns 2,705 shares of the company's stock, valued at $1,420,801.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares of the company's stock, valued at $876,222.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,552 shares of company stock worth $12,920,326. 0.39% of the stock is owned by corporate insiders.

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.