Amalgamated Bank lifted its position in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,544 shares of the specialty retailer’s stock after buying an additional 833 shares during the period. Amalgamated Bank’s holdings in Ulta Beauty were worth $1,745,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Tocqueville Asset Management L.P. bought a new stake in Ulta Beauty during the fourth quarter worth about $347,000. MANA Advisors LLC bought a new stake in Ulta Beauty during the fourth quarter worth about $748,000. Alliancebernstein L.P. raised its holdings in Ulta Beauty by 10.3% during the fourth quarter. Alliancebernstein L.P. now owns 2,125,037 shares of the specialty retailer’s stock worth $475,286,000 after acquiring an additional 197,666 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Ulta Beauty during the fourth quarter worth about $56,832,000. Finally, Champlain Investment Partners LLC bought a new stake in Ulta Beauty during the fourth quarter worth about $57,681,000. 90.10% of the stock is owned by institutional investors.
Several research firms recently issued reports on ULTA. Atlantic Securities began coverage on Ulta Beauty in a report on Tuesday, June 19th. They set an “overweight” rating and a $303.00 target price on the stock. Deutsche Bank set a $244.00 price objective on Ulta Beauty and gave the company a “hold” rating in a research note on Monday, May 7th. Credit Suisse Group upped their price objective on Ulta Beauty from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. Goldman Sachs Group lowered Ulta Beauty from a “buy” rating to a “neutral” rating and upped their price objective for the company from $241.00 to $272.00 in a research note on Tuesday, June 5th. Finally, Loop Capital set a $250.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research note on Friday, March 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $264.96.
Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 31st. The specialty retailer reported $2.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.22. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Ulta Beauty had a return on equity of 32.15% and a net margin of 9.67%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. research analysts expect that Ulta Beauty Inc will post 10.84 EPS for the current year.
Ulta Beauty declared that its Board of Directors has authorized a share buyback program on Thursday, March 15th that permits the company to buyback $625.00 million in outstanding shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, CEO Mary N. Dillon sold 16,286 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $206.99, for a total transaction of $3,371,039.14. Following the transaction, the chief executive officer now owns 100,984 shares in the company, valued at $20,902,678.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles J. Philippin sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $251.00, for a total value of $12,550,000.00. Following the transaction, the director now owns 130,923 shares in the company, valued at approximately $32,861,673. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,718 shares of company stock worth $29,033,006. 5.60% of the stock is owned by corporate insiders.
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.
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