Trivant Custom Portfolio Group LLC Trims Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Trivant Custom Portfolio Group LLC lessened its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 2.8% during the first quarter, HoldingsChannel reports. The firm owned 5,096 shares of the specialty retailer’s stock after selling 147 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in Ulta Beauty were worth $2,665,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ulta Beauty in the 4th quarter worth $25,000. Vima LLC purchased a new position in shares of Ulta Beauty in the 4th quarter worth $27,000. BKM Wealth Management LLC purchased a new position in shares of Ulta Beauty in the 4th quarter worth $28,000. VisionPoint Advisory Group LLC raised its position in shares of Ulta Beauty by 7,300.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock worth $30,000 after buying an additional 73 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of Ulta Beauty in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

ULTA has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Robert W. Baird lowered their price target on Ulta Beauty from $625.00 to $525.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Piper Sandler lowered their price target on Ulta Beauty from $505.00 to $498.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Wells Fargo & Company lowered their price target on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. Finally, Raymond James lowered their price target on Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $503.87.

Ulta Beauty Trading Down 0.0 %

NASDAQ ULTA traded down $0.08 during trading hours on Friday, reaching $385.87. The company’s stock had a trading volume of 818,129 shares, compared to its average volume of 939,288. The business has a 50-day simple moving average of $392.42 and a 200 day simple moving average of $462.92. Ulta Beauty, Inc. has a 52 week low of $368.02 and a 52 week high of $574.76. The stock has a market cap of $18.41 billion, a PE ratio of 15.05, a PEG ratio of 1.68 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter last year, the company posted $6.88 earnings per share. Ulta Beauty’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Ulta Beauty, Inc. will post 25.76 EPS for the current year.

Ulta Beauty announced that its board has authorized a share buyback plan on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the sale, the insider now owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

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.