Sompo Asset Management Co. Ltd. Grows Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Sompo Asset Management Co. Ltd. boosted its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,634 shares of the specialty retailer's stock after buying an additional 760 shares during the period. Ulta Beauty makes up about 1.1% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 21st biggest holding. Sompo Asset Management Co. Ltd.'s holdings in Ulta Beauty were worth $6,365,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ULTA. Prestige Wealth Management Group LLC grew its holdings in shares of Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 34 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer's stock worth $32,000 after buying an additional 50 shares in the last quarter. Edge Capital Group LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Ulta Beauty during the 4th quarter valued at about $43,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Ulta Beauty in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ULTA. Wells Fargo & Company decreased their price objective on Ulta Beauty from $360.00 to $310.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Bank of America lowered their price target on Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $500.00 price objective on shares of Ulta Beauty in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Ulta Beauty from $480.00 to $475.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Finally, Argus downgraded shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $427.61.

Insider Transactions at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. This trade represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company's stock.

Ulta Beauty Stock Performance

NASDAQ:ULTA traded down $2.23 during midday trading on Monday, reaching $381.44. 233,762 shares of the stock traded hands, compared to its average volume of 1,052,454. The stock has a market capitalization of $17.28 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. Ulta Beauty, Inc. has a 12-month low of $309.01 and a 12-month high of $460.00. The business has a 50-day moving average of $358.34 and a two-hundred day moving average of $382.79.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, topping the consensus estimate of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm earned $8.08 EPS. Ulta Beauty's revenue was down 1.9% compared to the same quarter last year. Research analysts anticipate that Ulta Beauty, Inc. will post 23.96 earnings per share for the current year.

About Ulta Beauty

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.