Versant Capital Management Inc Raises Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Versant Capital Management Inc lifted its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 450.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545 shares of the specialty retailer’s stock after purchasing an additional 446 shares during the quarter. Versant Capital Management Inc’s holdings in Ulta Beauty were worth $200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors purchased a new stake in Ulta Beauty in the fourth quarter valued at about $430,674,000. Norges Bank acquired a new position in shares of Ulta Beauty during the fourth quarter valued at about $239,432,000. Marshall Wace LLP increased its holdings in shares of Ulta Beauty by 10,336.7% during the fourth quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock valued at $199,681,000 after acquiring an additional 454,711 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ulta Beauty in the 4th quarter valued at approximately $73,780,000. Finally, Proficio Capital Partners LLC acquired a new stake in Ulta Beauty in the 4th quarter worth approximately $58,074,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $469.71 on Monday. The stock has a 50 day simple moving average of $384.70 and a 200-day simple moving average of $388.06. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.89 and a beta of 1.06. Ulta Beauty, Inc. has a 1-year low of $309.01 and a 1-year high of $491.98.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $6.47 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total value of $332,982.32. Following the transaction, the insider now owns 7,632 shares in the company, valued at $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ULTA. DA Davidson boosted their target price on shares of Ulta Beauty from $415.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley dropped their price objective on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Barclays cut their target price on Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Truist Financial raised their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Bank of America cut their price target on Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $454.04.

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.