Kingswood Wealth Advisors LLC Raises Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Kingswood Wealth Advisors LLC boosted its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 21.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 694 shares of the specialty retailer’s stock after acquiring an additional 123 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Ulta Beauty were worth $363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Ulta Beauty in the 4th quarter valued at about $25,000. Vima LLC purchased a new position in shares of Ulta Beauty in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in shares of Ulta Beauty in the fourth quarter worth approximately $28,000. VisionPoint Advisory Group LLC increased its position in shares of Ulta Beauty by 7,300.0% during the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Ulta Beauty in the 1st quarter valued at $30,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Trading Down 0.5 %

NASDAQ:ULTA opened at $385.95 on Friday. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76. The firm has a market cap of $18.42 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.69 and a beta of 1.36. The stock has a fifty day moving average price of $393.76 and a 200 day moving average price of $464.34.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.19 by $0.28. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter last year, the business posted $6.88 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Ulta Beauty, Inc. will post 25.76 EPS for the current year.

Ulta Beauty declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ULTA shares. Citigroup dropped their target price on shares of Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Oppenheimer cut their price objective on shares of Ulta Beauty from $500.00 to $475.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Jefferies Financial Group cut their price target on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating for the company in a report on Friday, May 24th. Evercore ISI reduced their price target on Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, Bank of America dropped their price objective on shares of Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.30.

Insider Buying and Selling

In other news, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the transaction, the insider now directly owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Ulta Beauty Profile

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.