Fred Alger Management Inc. decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 42.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,570 shares of the specialty retailer’s stock after selling 5,697 shares during the period. Fred Alger Management Inc.’s holdings in Ulta Beauty were worth $2,175,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ULTA. BlackRock Inc. boosted its holdings in Ulta Beauty by 2,734.8% in the first quarter. BlackRock Inc. now owns 4,007,950 shares of the specialty retailer’s stock valued at $1,143,188,000 after acquiring an additional 3,866,567 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Ulta Beauty by 137.3% in the second quarter. Wells Fargo & Company MN now owns 1,053,780 shares of the specialty retailer’s stock valued at $302,792,000 after acquiring an additional 609,671 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in Ulta Beauty by 28,419.1% in the second quarter. Harbour Capital Advisors LLC now owns 571,807 shares of the specialty retailer’s stock valued at $1,990,000 after acquiring an additional 569,802 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Ulta Beauty by 1,786.4% in the first quarter. Wellington Management Group LLP now owns 449,648 shares of the specialty retailer’s stock valued at $128,253,000 after acquiring an additional 425,812 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Ulta Beauty by 605.4% in the second quarter. Renaissance Technologies LLC now owns 389,400 shares of the specialty retailer’s stock valued at $111,890,000 after acquiring an additional 334,198 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.
ULTA has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) upgraded Ulta Beauty from a “neutral” rating to a “buy” rating and set a $310.00 price target on the stock in a report on Friday, July 14th. Zacks Investment Research upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $301.00 price target on the stock in a report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $350.00 price target on shares of Ulta Beauty in a report on Friday, July 14th. Piper Jaffray Companies reiterated a “buy” rating and issued a $330.00 price target on shares of Ulta Beauty in a report on Tuesday, June 13th. Finally, Cowen and Company set a $336.00 price target on Ulta Beauty and gave the company a “buy” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $279.96.
In other Ulta Beauty news, Director Michael R. Macdonald bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $208.37 per share, for a total transaction of $416,740.00. Following the transaction, the director now directly owns 6,224 shares in the company, valued at $1,296,894.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is owned by corporate insiders.
Shares of Ulta Beauty Inc. (NASDAQ ULTA) opened at 219.91 on Friday. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of 29.27 and a beta of 0.57. Ulta Beauty Inc. has a 52-week low of $204.01 and a 52-week high of $314.86. The stock’s 50 day moving average price is $224.35 and its 200-day moving average price is $265.80.
Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts forecast that Ulta Beauty Inc. will post $8.38 EPS for the current year.
About Ulta Beauty
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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