Cornerstone Wealth Management LLC reduced its stake in Ulta Beauty Inc (NASDAQ:ULTA) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,423 shares of the specialty retailer’s stock after selling 7,015 shares during the quarter. Cornerstone Wealth Management LLC owned approximately 0.08% of Ulta Beauty worth $232,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ULTA. IFM Investors Pty Ltd grew its holdings in Ulta Beauty by 42.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 2,652 shares of the specialty retailer’s stock valued at $619,000 after buying an additional 786 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Ulta Beauty by 17.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 17,457 shares of the specialty retailer’s stock valued at $4,072,000 after buying an additional 2,610 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Ulta Beauty by 6.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 13,174 shares of the specialty retailer’s stock valued at $3,076,000 after buying an additional 852 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in Ulta Beauty in the 2nd quarter valued at $527,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Ulta Beauty by 1.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,761 shares of the specialty retailer’s stock valued at $3,913,000 after buying an additional 259 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.
In related news, Director Dennis K. Eck sold 31,278 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the transaction, the director now owns 334,778 shares of the company’s stock, valued at approximately $95,706,334.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dennis K. Eck sold 35,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $287.15, for a total value of $10,050,250.00. Following the transaction, the director now directly owns 361,294 shares in the company, valued at approximately $103,745,572.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,407 shares of company stock valued at $19,580,698. Company insiders own 5.60% of the company’s stock.
Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.05. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Ulta Beauty had a return on equity of 33.29% and a net margin of 9.91%. As a group, research analysts predict that Ulta Beauty Inc will post 10.85 earnings per share for the current year.
Several analysts have issued reports on ULTA shares. Deutsche Bank set a $263.00 target price on Ulta Beauty and gave the company a “buy” rating in a report on Friday, November 2nd. BidaskClub upgraded Ulta Beauty from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Zacks Investment Research cut Ulta Beauty from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Morgan Stanley upped their target price on Ulta Beauty from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Finally, Piper Jaffray Companies set a $312.00 target price on Ulta Beauty and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $273.80.
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About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, haircare and skincare products, bath and body products, and salon styling tools; salon services, including hair, skin, and brow services; and others, including nail products and accessories.
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