Congress Wealth Management LLC DE Acquires 325 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Congress Wealth Management LLC DE increased its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,251 shares of the specialty retailer’s stock after acquiring an additional 325 shares during the period. Congress Wealth Management LLC DE owned about 0.06% of Ulta Beauty worth $14,772,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Ulta Beauty during the fourth quarter valued at $25,000. Vima LLC bought a new position in Ulta Beauty during the fourth quarter valued at $27,000. BKM Wealth Management LLC bought a new position in Ulta Beauty during the fourth quarter valued at $28,000. VisionPoint Advisory Group LLC grew its holdings in Ulta Beauty by 7,300.0% during the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Finally, Riverview Trust Co bought a new position in Ulta Beauty during the first quarter valued at $30,000. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Stock Performance

Shares of ULTA opened at $384.41 on Tuesday. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76. The firm has a market cap of $18.34 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.68 and a beta of 1.37. The firm has a 50 day moving average price of $392.42 and a 200-day moving average price of $462.71.

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 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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the prior year, the company earned $6.88 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Ulta Beauty, Inc. will post 25.76 earnings per share for the current year.

Ulta Beauty declared that its Board of Directors has approved a stock buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Ulta Beauty

In related news, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total transaction of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares in the company, valued at approximately $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Evercore ISI dropped their target price on Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Canaccord Genuity Group dropped their target price on Ulta Beauty from $575.00 to $522.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Bank of America dropped their target price on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. UBS Group increased their target price on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $500.00 target price on shares of Ulta Beauty in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $503.87.

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.