Summitry LLC Purchases 2,415 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Summitry LLC increased its position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,119 shares of the specialty retailer's stock after buying an additional 2,415 shares during the period. Ulta Beauty accounts for 4.6% of Summitry LLC's portfolio, making the stock its largest holding. Summitry LLC owned 0.33% of Ulta Beauty worth $78,947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ULTA. Raleigh Capital Management Inc. grew its holdings in Ulta Beauty by 4.3% during the third quarter. Raleigh Capital Management Inc. now owns 535 shares of the specialty retailer's stock valued at $214,000 after purchasing an additional 22 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Ulta Beauty by 0.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,828 shares of the specialty retailer's stock valued at $1,386,000 after purchasing an additional 23 shares during the last quarter. Nkcfo LLC grew its holdings in Ulta Beauty by 14.4% during the fourth quarter. Nkcfo LLC now owns 183 shares of the specialty retailer's stock valued at $90,000 after purchasing an additional 23 shares during the last quarter. AllSquare Wealth Management LLC grew its holdings in Ulta Beauty by 24.5% during the third quarter. AllSquare Wealth Management LLC now owns 127 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 25 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Ulta Beauty by 1.4% during the third quarter. Huntington National Bank now owns 1,820 shares of the specialty retailer's stock valued at $727,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ULTA shares. Barclays downgraded shares of Ulta Beauty from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $612.00 to $434.00 in a research note on Monday, April 29th. BMO Capital Markets raised their price objective on shares of Ulta Beauty from $485.00 to $540.00 and gave the stock a "market perform" rating in a research note on Friday, March 15th. Stifel Nicolaus raised their price objective on shares of Ulta Beauty from $505.00 to $565.00 and gave the stock a "hold" rating in a research note on Friday, March 15th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $438.00 target price (down from $585.00) on shares of Ulta Beauty in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. raised their target price on Ulta Beauty from $535.00 to $600.00 and gave the stock an "overweight" rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $546.86.

Insider Transactions at Ulta Beauty

In other news, Director Catherine Ann Halligan sold 500 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the sale, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Kecia Steelman sold 20,950 shares of the business's 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 transaction, the chief operating officer now directly owns 10,494 shares of the company's stock, valued at approximately $5,523,936.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the transaction, the director now directly owns 1,665 shares in the company, valued at $876,222.90. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock worth $12,920,326 in the last 90 days. Corporate insiders own 0.39% of the company's stock.

Ulta Beauty Stock Up 0.6 %

ULTA stock traded up $2.37 during midday trading on Monday, reaching $403.96. The stock had a trading volume of 698,064 shares, compared to its average volume of 761,366. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.65 and a beta of 1.36. Ulta Beauty, Inc. has a twelve month low of $368.02 and a twelve month high of $574.76. The business has a fifty day simple moving average of $470.29 and a two-hundred day simple moving average of $470.88.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion for 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 business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.68 EPS. On average, equities analysts predict that Ulta Beauty, Inc. will post 26.48 earnings per share for the current fiscal year.

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