Hedeker Wealth LLC Trims Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Hedeker Wealth LLC trimmed its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,139 shares of the specialty retailer’s stock after selling 117 shares during the period. Hedeker Wealth LLC’s holdings in Ulta Beauty were worth $3,210,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. 1832 Asset Management L.P. grew its stake in shares of Ulta Beauty by 120.2% in the 4th quarter. 1832 Asset Management L.P. now owns 14,448 shares of the specialty retailer’s stock worth $7,079,000 after buying an additional 7,887 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Ulta Beauty by 347.3% in the 4th quarter. Nordea Investment Management AB now owns 71,491 shares of the specialty retailer’s stock worth $35,061,000 after acquiring an additional 55,508 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth about $1,810,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Ulta Beauty by 6.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,037 shares of the specialty retailer’s stock worth $13,248,000 after acquiring an additional 1,662 shares during the last quarter. Finally, Warther Private Wealth LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth about $6,023,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ulta Beauty

In related news, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Ulta Beauty Stock Performance

Shares of ULTA traded up $0.29 during trading hours on Wednesday, hitting $393.31. The stock had a trading volume of 54,818 shares, compared to its average volume of 808,361. The firm has a 50-day moving average price of $391.75 and a 200 day moving average price of $461.93. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.68 and a beta of 1.37. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.88 earnings per share. As a group, analysts predict that Ulta Beauty, Inc. will post 25.76 EPS for the current fiscal year.

Ulta Beauty declared that its board has approved a share buyback plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Ulta Beauty from $520.00 to $500.00 and set a “buy” rating for the company in a report on Friday, May 31st. Loop Capital upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 price objective for the company in a report on Monday, April 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $500.00 price objective on shares of Ulta Beauty in a report on Friday, May 31st. Citigroup decreased their price objective on shares of Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ulta Beauty from $574.00 to $627.00 in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ulta Beauty has an average rating of “Moderate Buy” and an average target price of $503.87.

Ulta Beauty 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.