Scarborough Advisors LLC Invests $52,000 in Ulta Beauty, Inc. (NASDAQ:ULTA)

Scarborough Advisors LLC acquired a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 106 shares of the specialty retailer’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ULTA. Loomis Sayles & Co. L P increased its position in Ulta Beauty by 364.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 51 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Ulta Beauty by 19.2% during the third quarter. PNC Financial Services Group Inc. now owns 18,898 shares of the specialty retailer’s stock worth $7,549,000 after buying an additional 3,040 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Ulta Beauty by 54.9% in the third quarter. Kestra Advisory Services LLC now owns 3,717 shares of the specialty retailer’s stock valued at $1,485,000 after buying an additional 1,317 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $1,357,000. Finally, Invesco Ltd. boosted its position in Ulta Beauty by 6.2% during the third quarter. Invesco Ltd. now owns 570,913 shares of the specialty retailer’s stock worth $228,051,000 after acquiring an additional 33,508 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Down 0.4 %

ULTA stock opened at $389.15 on Tuesday. The company has a market capitalization of $18.57 billion, a PE ratio of 15.18, a P/E/G ratio of 1.70 and a beta of 1.36. The stock’s 50 day moving average is $401.45 and its two-hundred day moving average is $469.12. Ulta Beauty, Inc. has a 52-week low of $368.02 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.19 by $0.28. The firm had revenue of $2.73 billion for 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 quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.88 earnings per share. As a group, sell-side analysts anticipate that Ulta Beauty, Inc. will post 25.76 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ULTA shares. TD Cowen reduced their price target on Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. UBS Group raised their price target on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Wells Fargo & Company cut their price objective on shares of Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a report on Wednesday, April 24th. Evercore ISI lowered their target price on shares of Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, Bank of America cut their price target on shares of Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $507.30.

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.