Register Financial Advisors LLC Takes $107,000 Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Register Financial Advisors LLC bought a new stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 205 shares of the specialty retailer’s stock, valued at approximately $107,000.

Other hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ulta Beauty during the fourth quarter valued at about $25,000. Vima LLC bought a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $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 worth $30,000 after buying an additional 73 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Ulta Beauty during the first quarter worth $30,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

ULTA stock traded down $0.08 during trading on Friday, hitting $385.87. The stock had a trading volume of 818,012 shares, compared to its average volume of 814,480. The company’s 50 day moving average price is $392.42 and its two-hundred day moving average price is $463.13. Ulta Beauty, Inc. has a 1-year low of $368.02 and a 1-year high of $574.76. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.69 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA) last posted 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. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.88 EPS. As a group, sell-side analysts forecast that Ulta Beauty, Inc. will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty declared that its board has authorized a share 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 buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the sale, the insider now directly owns 6,801 shares of the company’s stock, valued at $2,643,412.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ULTA. UBS Group upped their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Jefferies Financial Group decreased their target price on Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. The Goldman Sachs Group reduced their price objective on Ulta Beauty from $605.00 to $476.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on Ulta Beauty from $530.00 to $544.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Bank of America dropped their target price on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.