Summit Trail Advisors LLC Has $304,000 Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Summit Trail Advisors LLC increased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 621 shares of the specialty retailer’s stock after buying an additional 72 shares during the period. Summit Trail Advisors LLC’s holdings in Ulta Beauty were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley raised 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 acquiring an additional 556,809 shares during the period. International Assets Investment Management LLC increased its position in 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 buying an additional 290,908 shares during the period. Boston Partners lifted its holdings in shares of Ulta Beauty by 86.5% during the third quarter. Boston Partners now owns 342,547 shares of the specialty retailer’s stock worth $136,451,000 after buying an additional 158,897 shares in the last quarter. Scopus Asset Management L.P. bought a new stake in shares of Ulta Beauty in the third quarter valued at about $39,945,000. Finally, Barclays PLC grew its stake in shares of Ulta Beauty by 74.3% in the third quarter. Barclays PLC now owns 221,882 shares of the specialty retailer’s stock valued at $88,630,000 after acquiring an additional 94,581 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ULTA has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of Ulta Beauty from $665.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price target on Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. TD Cowen lowered their price objective on shares of Ulta Beauty from $580.00 to $520.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus upped their price objective on shares of Ulta Beauty from $505.00 to $565.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Finally, Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price for the company in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Moderate Buy” and a consensus target price of $546.86.

Insider Buying and Selling at Ulta Beauty

In related news, COO Kecia Steelman sold 20,950 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total value of $11,027,870.50. Following the completion of the sale, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Kecia Steelman sold 20,950 shares of Ulta Beauty stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the transaction, the chief operating officer now owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the sale, the insider now owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold 24,552 shares of company stock worth $12,920,326 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $394.24 on Wednesday. The stock has a market cap of $18.90 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. The firm’s 50-day simple moving average is $479.71 and its 200 day simple moving average is $470.48. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the firm posted $6.68 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Ulta Beauty, Inc. will post 26.55 EPS for the current fiscal year.

Ulta Beauty announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Ulta Beauty

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.