Arrowstreet Capital Limited Partnership reduced its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 58.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,300 shares of the specialty retailer’s stock after selling 51,900 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Ulta Beauty worth $10,718,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in Ulta Beauty by 11.2% in the 1st quarter. Fifth Third Bancorp now owns 398 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 40 shares during the last quarter. Sun Life Financial INC raised its position in Ulta Beauty by 4,655.6% in the 2nd quarter. Sun Life Financial INC now owns 428 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 419 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Ulta Beauty in the 1st quarter valued at $142,000. Lazard Asset Management LLC purchased a new stake in Ulta Beauty in the 2nd quarter valued at $157,000. Finally, QS Investors LLC raised its position in Ulta Beauty by 0.8% in the 2nd quarter. QS Investors LLC now owns 730 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 6 shares during the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael R. Macdonald acquired 2,000 shares of Ulta Beauty stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $208.37 per share, for a total transaction of $416,740.00. Following the completion of the transaction, the director now owns 6,224 shares in the company, valued at $1,296,894.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. Ulta Beauty’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share.
ULTA has been the subject of a number of analyst reports. Jefferies Group LLC set a $350.00 price target on Ulta Beauty and gave the company a “buy” rating in a research report on Monday, August 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $330.00 price target on shares of Ulta Beauty in a research report on Monday, August 21st. Stifel Nicolaus lowered their price target on Ulta Beauty from $325.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, August 21st. Morgan Stanley lowered their price target on Ulta Beauty from $313.00 to $245.00 and set an “equal weight” rating for the company in a research report on Monday, August 28th. Finally, Robert W. Baird set a $335.00 price target on Ulta Beauty and gave the company a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $281.76.
About Ulta Beauty
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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