Fred Alger Management Inc. lowered its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 42.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 reporting period.
Several other hedge funds have also recently made changes to their positions in ULTA. Vanguard Group Inc. increased its holdings in Ulta Beauty by 3.1% during the second quarter. Vanguard Group Inc. now owns 5,738,059 shares of the specialty retailer’s stock worth $1,648,774,000 after buying an additional 173,627 shares during the last quarter. BlackRock Inc. increased its holdings in Ulta Beauty by 6.2% during the second quarter. BlackRock Inc. now owns 4,255,942 shares of the specialty retailer’s stock worth $1,222,902,000 after buying an additional 247,992 shares during the last quarter. Jennison Associates LLC increased its holdings in Ulta Beauty by 9.1% during the second quarter. Jennison Associates LLC now owns 2,468,332 shares of the specialty retailer’s stock worth $709,251,000 after buying an additional 205,289 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Ulta Beauty by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 2,180,557 shares of the specialty retailer’s stock worth $626,560,000 after buying an additional 83,081 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Ulta Beauty by 31.9% during the second quarter. Alliancebernstein L.P. now owns 1,311,030 shares of the specialty retailer’s stock worth $376,711,000 after buying an additional 317,441 shares during the last quarter. Institutional investors own 87.70% of the company’s stock.
In other Ulta Beauty news, Director Michael R. Macdonald purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $208.37 per share, with a total value of $416,740.00. Following the purchase, the director now directly owns 6,224 shares in the company, valued at approximately $1,296,894.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles Heilbronn purchased 127,889 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was acquired at an average cost of $195.21 per share, for a total transaction of $24,965,211.69. The disclosure for this purchase can be found here. Corporate insiders own 5.20% of the company’s stock.
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A number of equities analysts have weighed in on ULTA shares. Goldman Sachs Group, Inc. (The) lowered shares of Ulta Beauty from a “conviction-buy” rating to a “buy” rating and cut their target price for the stock from $290.00 to $267.00 in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating and set a $345.00 target price on shares of Ulta Beauty in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating and set a $330.00 target price (up previously from $270.00) on shares of Ulta Beauty in a research report on Monday, July 31st. Jefferies Group LLC set a $300.00 target price on shares of Ulta Beauty and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, KeyCorp reiterated a “buy” rating and set a $270.00 target price (down previously from $300.00) on shares of Ulta Beauty in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. Ulta Beauty has an average rating of “Hold” and a consensus price target of $279.49.
Ulta Beauty Inc. (NASDAQ:ULTA) opened at 193.70 on Tuesday. Ulta Beauty Inc. has a 52 week low of $187.96 and a 52 week high of $314.86. The stock has a market capitalization of $11.90 billion, a P/E ratio of 25.79 and a beta of 0.57. The company has a 50 day moving average of $220.31 and a 200 day moving average of $262.79.
Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $1.83 EPS for the quarter, beating the Thomson Reuters’ 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 business 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 posted $1.43 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts expect that Ulta Beauty Inc. will post $8.38 EPS for the current fiscal year.
Ulta Beauty Company Profile
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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