Palouse Capital Management Inc. Takes Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Palouse Capital Management Inc. acquired a new position in Ulta Beauty, Inc. (NASDAQ:ULTA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,998 shares of the specialty retailer’s stock, valued at approximately $1,157,000.

Other large investors also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC raised its position in Ulta Beauty by 32.5% in the 1st quarter. Janiczek Wealth Management LLC now owns 102 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 25 shares during the period. Commerce Bank grew its stake in shares of Ulta Beauty by 1.0% during the fourth quarter. Commerce Bank now owns 2,742 shares of the specialty retailer’s stock valued at $1,344,000 after buying an additional 26 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Ulta Beauty by 5.8% in the first quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock worth $250,000 after buying an additional 26 shares during the period. Eudaimonia Partners LLC lifted its stake in shares of Ulta Beauty by 4.0% in the 1st quarter. Eudaimonia Partners LLC now owns 698 shares of the specialty retailer’s stock valued at $365,000 after acquiring an additional 27 shares during the last quarter. Finally, Sage Capital Advisors llc boosted its holdings in Ulta Beauty by 5.4% during the 2nd quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock valued at $203,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ULTA. JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Citigroup dropped their price target on shares of Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ulta Beauty from $552.00 to $448.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Loop Capital dropped their target price on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Finally, UBS Group reduced their price target on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Hold” and a consensus target price of $425.29.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now directly 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. In related news, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 2,017 shares of the company’s stock, valued at approximately $786,791.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the transaction, the insider now owns 6,801 shares in the company, valued at approximately $2,643,412.68. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

Ulta Beauty Price Performance

ULTA stock opened at $402.72 on Thursday. The stock has a market capitalization of $18.98 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.22 and a beta of 1.31. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The business has a fifty day moving average price of $368.18 and a 200-day moving average price of $410.00.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company posted $6.02 EPS. Ulta Beauty’s revenue was up .9% on a year-over-year basis. As a group, analysts anticipate that Ulta Beauty, Inc. will post 23.21 earnings per share for the current year.

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.