Procyon Advisors LLC Takes $239,000 Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Procyon Advisors LLC acquired a new stake in Ulta Beauty, Inc. (NASDAQ:ULTAFree Report) during the fourth quarter, Holdings Channel.com reports. The firm acquired 487 shares of the specialty retailer’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised 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 valued at $35,061,000 after purchasing an additional 55,508 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ulta Beauty by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 284,442 shares of the specialty retailer’s stock valued at $113,620,000 after purchasing an additional 2,126 shares in the last quarter. Asio Capital LLC grew its position in shares of Ulta Beauty by 64.3% in the 4th quarter. Asio Capital LLC now owns 10,171 shares of the specialty retailer’s stock valued at $4,984,000 after buying an additional 3,980 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Ulta Beauty in the 3rd quarter valued at $879,000. Finally, Diversified Trust Co grew its position in shares of Ulta Beauty by 4.8% in the 4th quarter. Diversified Trust Co now owns 1,976 shares of the specialty retailer’s stock valued at $968,000 after buying an additional 90 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 1.8 %

Shares of NASDAQ:ULTA opened at $522.88 on Friday. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.07 and a beta of 1.31. The firm’s 50-day simple moving average is $526.00 and its 200-day simple moving average is $462.19. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last issued its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating the consensus estimate of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the firm earned $6.68 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Ulta Beauty, Inc. will post 26.94 EPS for the current year.

Ulta Beauty declared that its Board of Directors has initiated a share repurchase program on Thursday, March 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on ULTA shares. Piper Sandler increased their target price on shares of Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Loop Capital increased their target price on shares of Ulta Beauty from $530.00 to $540.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. Morgan Stanley increased their target price on shares of Ulta Beauty from $480.00 to $525.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Finally, DA Davidson reissued a “buy” rating and set a $595.00 price objective on shares of Ulta Beauty in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.70.

Read Our Latest Research Report on ULTA

Insider Activity at Ulta Beauty

In related news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now owns 1,665 shares in the company, valued at $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now owns 1,665 shares in the company, valued at $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kecia Steelman sold 20,950 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the sale, the chief operating officer now owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. Insiders sold 24,552 shares of company stock worth $12,920,326 over the last 90 days. Company insiders own 0.34% of the company’s stock.

About Ulta Beauty

(Free Report)

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

Featured Articles

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:ULTAFree Report).

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

Receive News & Ratings for Ulta Beauty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ulta Beauty and related companies with MarketBeat.com's FREE daily email newsletter.