RBA Wealth Management LLC Sells 51 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

RBA Wealth Management LLC cut its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485 shares of the specialty retailer’s stock after selling 51 shares during the quarter. RBA Wealth Management LLC’s holdings in Ulta Beauty were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ULTA. Turtle Creek Wealth Advisors LLC bought a new position in Ulta Beauty in the 4th quarter valued at approximately $25,000. Vima LLC bought a new stake in shares of Ulta Beauty in the fourth quarter worth $27,000. Riverview Trust Co acquired a new stake in Ulta Beauty in the first quarter valued at $30,000. BKM Wealth Management LLC acquired a new position in Ulta Beauty during the 4th quarter worth about $28,000. Finally, Sound Income Strategies LLC grew its position 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 valued at $31,000 after buying an additional 49 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Trading Down 0.9 %

Shares of ULTA traded down $3.35 on Thursday, reaching $389.67. 431,443 shares of the company’s stock traded hands, compared to its average volume of 788,801. The stock’s 50 day simple moving average is $390.81 and its two-hundred day simple moving average is $460.74. The stock has a market cap of $18.60 billion, a PE ratio of 15.20, a PEG ratio of 1.71 and a beta of 1.37. Ulta Beauty, Inc. has a 52-week low of $368.02 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its earnings results 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. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $6.88 EPS. Analysts forecast 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 share buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th. Robert W. Baird lowered their target price on shares of Ulta Beauty from $625.00 to $525.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. The Goldman Sachs Group lowered their price objective on Ulta Beauty from $605.00 to $476.00 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Finally, Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price for the company in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.87.

Insider Transactions at Ulta Beauty

In related news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 in the company, valued at $786,791.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jodi J. Caro sold 650 shares of the firm’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 completion of the transaction, the insider now directly owns 6,801 shares in the company, valued at $2,643,412.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares in the company, valued at $786,791.36. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

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.