SteelPeak Wealth LLC Has $1.55 Million Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

SteelPeak Wealth LLC boosted its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,959 shares of the specialty retailer’s stock after acquiring an additional 585 shares during the quarter. SteelPeak Wealth LLC’s holdings in Ulta Beauty were worth $1,547,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in Ulta Beauty by 56.7% in the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after buying an additional 556,809 shares in the last quarter. Norges Bank acquired a new stake in shares of Ulta Beauty in the 4th quarter valued at $263,192,000. Global Assets Advisory LLC bought a new stake in shares of Ulta Beauty in the 1st quarter worth about $176,753,000. International Assets Investment Management LLC increased its position in shares of Ulta Beauty by 45,740.3% during the 4th quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock worth $142,854,000 after purchasing an additional 290,908 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Ulta Beauty by 177.8% during the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock valued at $199,596,000 after purchasing an additional 260,740 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ULTA shares. BMO Capital Markets decreased their target price on Ulta Beauty from $540.00 to $500.00 and set a “market perform” rating on the stock in a report on Friday, May 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Ulta Beauty in a research note on Friday, May 31st. The Goldman Sachs Group cut their target price on Ulta Beauty from $605.00 to $476.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 price target for the company in a research note on Monday, April 8th. Finally, Barclays reduced their price objective on shares of Ulta Beauty from $394.00 to $355.00 and set an “equal weight” rating on the stock in a research note on Friday. One equities research 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. According to MarketBeat.com, Ulta Beauty has a consensus rating of “Moderate Buy” and an average price target of $503.87.

Ulta Beauty Trading Down 0.0 %

NASDAQ:ULTA opened at $385.87 on Monday. The stock has a 50 day simple moving average of $392.42 and a 200 day simple moving average of $462.71. The stock has a market cap of $18.41 billion, a P/E ratio of 15.05, a PEG ratio of 1.68 and a beta of 1.37. Ulta Beauty, Inc. has a 1-year low of $368.02 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the previous year, the business posted $6.88 earnings per share. Ulta Beauty’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Ulta Beauty, Inc. will post 25.76 EPS for the current year.

Ulta Beauty declared that its board has approved 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction that occurred on 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 directly owns 6,801 shares in the company, valued at $2,643,412.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

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.