Heron Bay Capital Management Grows Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Heron Bay Capital Management grew its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 130.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,513 shares of the specialty retailer’s stock after purchasing an additional 17,295 shares during the period. Ulta Beauty makes up about 2.5% of Heron Bay Capital Management’s holdings, making the stock its 14th largest position. Heron Bay Capital Management owned about 0.06% of Ulta Beauty worth $11,774,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vima LLC acquired a new position in Ulta Beauty during the fourth quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of Ulta Beauty during the 1st quarter worth approximately $30,000. Sound Income Strategies LLC grew its holdings in shares of Ulta Beauty by 490.0% in the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 49 shares during the period. LRI Investments LLC purchased a new position in Ulta Beauty in the 1st quarter valued at approximately $31,000. Finally, UMB Bank n.a. raised its holdings in Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 30 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $402.01 on Friday. The firm has a fifty day moving average of $368.01 and a two-hundred day moving average of $407.97. The firm has a market cap of $19.18 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.22 and a beta of 1.31. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $6.02 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that Ulta Beauty, Inc. will post 23.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ULTA. Deutsche Bank Aktiengesellschaft dropped their price target on Ulta Beauty from $552.00 to $448.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a report on Friday, May 31st. The Goldman Sachs Group reduced their target price on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Citigroup decreased their target price on shares of Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Finally, Raymond James lowered Ulta Beauty from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $500.00 to $450.00 in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Hold” and a consensus price target of $425.29.

Insider Activity at Ulta Beauty

In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the transaction, 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 the SEC website. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the transaction, the director now owns 2,017 shares of the company’s stock, valued at $786,791.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the transaction, the insider now directly owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Ulta Beauty Company 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.