Dohj LLC Invests $419,000 in Ulta Beauty, Inc. (NASDAQ:ULTA)

Dohj LLC bought a new position in Ulta Beauty, Inc. (NASDAQ:ULTA) during the fourth quarter, Holdings Channel reports. The firm bought 856 shares of the specialty retailer’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ULTA. Raleigh Capital Management Inc. boosted its holdings in Ulta Beauty by 4.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 535 shares of the specialty retailer’s stock valued at $214,000 after purchasing an additional 22 shares during the period. Pinnacle Associates Ltd. boosted its stake in Ulta Beauty by 0.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,828 shares of the specialty retailer’s stock worth $1,386,000 after acquiring an additional 23 shares in the last quarter. AllSquare Wealth Management LLC raised its holdings in Ulta Beauty by 24.5% in the third quarter. AllSquare Wealth Management LLC now owns 127 shares of the specialty retailer’s stock worth $51,000 after buying an additional 25 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Ulta Beauty by 1.4% in the 3rd quarter. Huntington National Bank now owns 1,820 shares of the specialty retailer’s stock worth $727,000 after acquiring an additional 26 shares during the last quarter. Finally, Phoenix Wealth Advisors lifted its holdings in Ulta Beauty by 2.6% during the 3rd quarter. Phoenix Wealth Advisors now owns 1,106 shares of the specialty retailer’s stock valued at $442,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

ULTA has been the subject of several recent research reports. DA Davidson restated a “buy” rating and issued a $595.00 price target on shares of Ulta Beauty in a report on Friday, March 15th. Piper Sandler reduced their price target on shares of Ulta Beauty from $665.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Raymond James cut their price objective on shares of Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Ulta Beauty in a research report on Friday, March 15th. Finally, Wells Fargo & Company cut their price objective on shares of Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued 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 $556.52.

Ulta Beauty Stock Performance

Ulta Beauty stock traded down $1.62 during midday trading on Friday, reaching $406.39. The company’s stock had a trading volume of 637,675 shares, compared to its average volume of 1,044,163. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76. The stock’s 50 day simple moving average is $500.18 and its 200 day simple moving average is $468.35. The firm has a market capitalization of $19.48 billion, a PE ratio of 15.60, a P/E/G ratio of 1.67 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company earned $6.68 earnings per share. Ulta Beauty’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Ulta Beauty, Inc. will post 26.55 earnings per share for the current year.

Ulta Beauty announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now directly owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Catherine Ann Halligan sold 500 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total transaction of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the sale, the chief operating officer now directly owns 10,494 shares of the company’s stock, valued at $5,523,936.66. The disclosure for this sale can be found here. Insiders sold a total of 24,552 shares of company stock worth $12,920,326 in the last three months. 0.34% of the stock is owned by insiders.

About Ulta Beauty

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.