Sompo Japan Nipponkoa Asset Management CO. LTD. Reduces Stake in Ulta Beauty Inc (ULTA)

Sompo Japan Nipponkoa Asset Management CO. LTD. trimmed its position in Ulta Beauty Inc (NASDAQ:ULTA) by 34.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,700 shares of the specialty retailer’s stock after selling 3,060 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Ulta Beauty were worth $1,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cannell Peter B & Co. Inc. increased its holdings in Ulta Beauty by 2.7% in the third quarter. Cannell Peter B & Co. Inc. now owns 174,946 shares of the specialty retailer’s stock valued at $49,356,000 after purchasing an additional 4,518 shares during the period. Penserra Capital Management LLC acquired a new stake in Ulta Beauty in the third quarter valued at $5,659,000. Comerica Securities Inc. acquired a new stake in Ulta Beauty in the third quarter valued at $325,000. D.B. Root & Company LLC acquired a new stake in Ulta Beauty in the third quarter valued at $208,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in Ulta Beauty by 88.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 53,937 shares of the specialty retailer’s stock valued at $15,217,000 after purchasing an additional 25,352 shares during the period. Institutional investors own 90.66% of the company’s stock.

A number of analysts recently weighed in on ULTA shares. Wells Fargo & Co set a $278.00 price objective on Ulta Beauty and gave the company a “buy” rating in a report on Monday, August 20th. Zacks Investment Research upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $286.00 price objective for the company in a report on Tuesday, July 17th. Jefferies Financial Group set a $285.00 price objective on Ulta Beauty and gave the company a “buy” rating in a report on Monday, July 30th. Piper Jaffray Companies set a $270.00 price objective on Ulta Beauty and gave the company a “buy” rating in a report on Tuesday, August 28th. Finally, UBS Group decreased their price objective on Ulta Beauty from $290.00 to $285.00 and set a “buy” rating for the company in a report on Friday, August 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $276.12.

Shares of Ulta Beauty stock opened at $305.98 on Friday. Ulta Beauty Inc has a 1-year low of $191.70 and a 1-year high of $308.88. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.60.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.05. Ulta Beauty had a return on equity of 33.29% and a net margin of 9.91%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.49 billion. Sell-side analysts predict that Ulta Beauty Inc will post 10.85 earnings per share for the current year.

In other news, Director Catherine Ann Halligan sold 129 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $281.50, for a total transaction of $36,313.50. Following the transaction, the director now owns 3,628 shares of the company’s stock, valued at approximately $1,021,282. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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.

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Ulta Beauty Company Profile

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.

Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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