Trivant Custom Portfolio Group LLC Sells 147 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Trivant Custom Portfolio Group LLC reduced its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,096 shares of the specialty retailer’s stock after selling 147 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Ulta Beauty were worth $2,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ULTA. 1832 Asset Management L.P. grew its holdings in Ulta Beauty by 120.2% during the 4th quarter. 1832 Asset Management L.P. now owns 14,448 shares of the specialty retailer’s stock valued at $7,079,000 after buying an additional 7,887 shares in the last quarter. Nordea Investment Management AB grew its holdings 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 purchasing an additional 55,508 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Ulta Beauty during the fourth quarter worth about $1,810,000. Illinois Municipal Retirement Fund grew its holdings in shares of Ulta Beauty by 6.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 27,037 shares of the specialty retailer’s stock worth $13,248,000 after purchasing an additional 1,662 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in shares of Ulta Beauty during the fourth quarter worth about $6,023,000. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ULTA shares. Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price for the company in a research note on Monday, April 8th. Telsey Advisory Group restated an “outperform” rating and set a $500.00 target price on shares of Ulta Beauty in a report on Friday, May 31st. Jefferies Financial Group reduced their price target on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Piper Sandler reduced their price target on Ulta Beauty from $505.00 to $498.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. Finally, Bank of America reduced their price target on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.87.

Insider Buying and Selling at Ulta Beauty

In other news, insider Jodi J. Caro sold 650 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock traded down $0.08 during trading on Friday, hitting $385.87. 818,129 shares of the company’s stock traded hands, compared to its average volume of 939,288. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76. The stock has a market capitalization of $18.41 billion, a P/E ratio of 15.05, a PEG ratio of 1.68 and a beta of 1.36. The business has a 50-day simple moving average of $392.42 and a 200-day simple moving average of $462.92.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.19 by $0.28. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company earned $6.88 earnings per share. Ulta Beauty’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Ulta Beauty, Inc. will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty announced that its Board of Directors has initiated a stock 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 reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Ulta Beauty Company 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.