Sumitomo Mitsui Asset Management Company LTD Lowers Stake in Ulta Beauty Inc (ULTA)

Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 15.8% during the first quarter, HoldingsChannel.com reports. The firm owned 13,380 shares of the specialty retailer’s stock after selling 2,510 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Ulta Beauty were worth $4,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC grew its position in Ulta Beauty by 1,247.7% in the fourth quarter. Rational Advisors LLC now owns 5,000 shares of the specialty retailer’s stock valued at $1,224,000 after acquiring an additional 4,629 shares during the period. Hendershot Investments Inc. grew its position in Ulta Beauty by 63.8% in the fourth quarter. Hendershot Investments Inc. now owns 12,244 shares of the specialty retailer’s stock valued at $2,998,000 after acquiring an additional 4,769 shares during the period. Sigma Investment Counselors Inc. grew its position in Ulta Beauty by 0.5% in the fourth quarter. Sigma Investment Counselors Inc. now owns 10,626 shares of the specialty retailer’s stock valued at $2,602,000 after acquiring an additional 52 shares during the period. Telemus Capital LLC grew its position in Ulta Beauty by 4.8% in the fourth quarter. Telemus Capital LLC now owns 1,462 shares of the specialty retailer’s stock valued at $358,000 after acquiring an additional 67 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its position in Ulta Beauty by 4.5% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,924 shares of the specialty retailer’s stock valued at $1,206,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 92.55% of the company’s stock.

Shares of ULTA traded up $4.79 during trading hours on Friday, hitting $348.03. 222,404 shares of the stock traded hands, compared to its average volume of 635,496. Ulta Beauty Inc has a 1-year low of $224.43 and a 1-year high of $359.69. The firm has a market capitalization of $20.02 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.05. Ulta Beauty had a return on equity of 36.09% and a net margin of 9.80%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Ulta Beauty Inc will post 12.79 EPS for the current fiscal year.

In other news, insider Jeffrey J. Childs sold 9,757 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $333.89, for a total transaction of $3,257,764.73. Following the transaction, the insider now owns 13,671 shares of the company’s stock, valued at $4,564,610.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Ann Halligan sold 704 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $342.97, for a total value of $241,450.88. Following the transaction, the director now directly owns 10,423 shares in the company, valued at approximately $3,574,776.31. The disclosure for this sale can be found here. Insiders have sold 426,250 shares of company stock worth $143,394,373 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Several analysts have recently commented on the company. Zacks Investment Research upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $388.00 target price on the stock in a report on Thursday, May 9th. BidaskClub upgraded Ulta Beauty from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Guggenheim restated a “buy” rating and set a $375.00 target price (up previously from $350.00) on shares of Ulta Beauty in a report on Tuesday. Piper Jaffray Companies increased their target price on Ulta Beauty from $362.00 to $378.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Finally, Robert W. Baird restated an “outperform” rating and set a $395.00 target price (up previously from $365.00) on shares of Ulta Beauty in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Ulta Beauty presently has an average rating of “Buy” and a consensus price target of $343.48.

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About Ulta Beauty

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.

Further Reading: Why do company’s buyback their stock?

Want to see what other hedge funds are holding ULTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ulta Beauty Inc (NASDAQ:ULTA).

Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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