Eaton Vance Management increased its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,463 shares of the specialty retailer’s stock after buying an additional 15,225 shares during the period. Eaton Vance Management owned about 0.23% of Ulta Beauty worth $36,889,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wolff Wiese Magana LLC acquired a new position in Ulta Beauty during the 4th quarter worth $25,000. Laurel Wealth Advisors LLC bought a new position in shares of Ulta Beauty during the fourth quarter worth about $26,000. Gemmer Asset Management LLC acquired a new position in Ulta Beauty in the fourth quarter worth about $40,000. Truvestments Capital LLC bought a new stake in Ulta Beauty in the fourth quarter valued at about $40,000. Finally, Montag A & Associates Inc. acquired a new stake in Ulta Beauty during the fourth quarter valued at approximately $43,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on ULTA. Piper Sandler boosted their price target on Ulta Beauty from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Wells Fargo & Company boosted their target price on shares of Ulta Beauty from $330.00 to $356.00 and gave the company an “overweight” rating in a research note on Thursday, March 18th. Telsey Advisory Group raised their price target on shares of Ulta Beauty from $315.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday, March 8th. The Goldman Sachs Group boosted their price objective on shares of Ulta Beauty from $286.00 to $319.00 and gave the company a “buy” rating in a research report on Thursday, December 10th. Finally, OTR Global upgraded shares of Ulta Beauty to a “positive” rating in a research note on Friday, March 5th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $310.08.
Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Wednesday, March 10th. The specialty retailer reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $1.14. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.08 billion. Ulta Beauty had a net margin of 3.63% and a return on equity of 15.94%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.89 EPS. As a group, research analysts anticipate that Ulta Beauty, Inc. will post 3.94 earnings per share for the current fiscal year.
In other Ulta Beauty news, Director Charles Heilbronn sold 226,791 shares of the business’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $304.23, for a total value of $68,996,625.93. Following the sale, the director now directly owns 60,963 shares in the company, valued at $18,546,773.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lorna Nagler sold 4,666 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $317.74, for a total transaction of $1,482,574.84. Following the completion of the sale, the director now directly owns 11,629 shares of the company’s stock, valued at $3,694,998.46. The disclosure for this sale can be found here. Insiders sold 496,148 shares of company stock valued at $151,602,430 over the last 90 days. 4.70% of the stock is currently owned by insiders.
About Ulta Beauty
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; professional hair products; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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