Douglas Lane & Associates LLC Sells 555 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Douglas Lane & Associates LLC lessened its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,146 shares of the specialty retailer’s stock after selling 555 shares during the period. Douglas Lane & Associates LLC’s holdings in Ulta Beauty were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ulta Beauty in the 4th quarter valued at $25,000. Vima LLC bought a new stake in shares of Ulta Beauty during the fourth quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in shares of Ulta Beauty in the fourth quarter valued at approximately $28,000. Webster Bank N. A. bought a new position in Ulta Beauty in the 4th quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC boosted its position in Ulta Beauty by 41.2% during the 4th quarter. Manchester Capital Management LLC now owns 72 shares of the specialty retailer’s stock worth $35,000 after buying an additional 21 shares during the period. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $383.85 on Monday. Ulta Beauty, Inc. has a one year low of $368.02 and a one year high of $574.76. The business has a 50-day simple moving average of $396.08 and a 200 day simple moving average of $466.25. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.65 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the business posted $6.88 EPS. Ulta Beauty’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that Ulta Beauty, Inc. will post 25.76 EPS for the current year.

Ulta Beauty declared that its board has authorized a stock buyback program on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire 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.

Wall Street Analyst Weigh In

ULTA has been the subject of several recent research reports. Evercore ISI decreased their price target on shares of Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Piper Sandler cut their target price on Ulta Beauty from $505.00 to $498.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price on the stock in a report on Monday, April 8th. Bank of America cut their target price on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Finally, UBS Group lifted their target price on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty has a consensus 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.