Harvey Capital Management Inc. Buys 2,000 Shares of Ulta Beauty Inc. (ULTA)
Harvey Capital Management Inc. increased its stake in Ulta Beauty Inc. (NASDAQ:ULTA) by 74.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,700 shares of the specialty retailer’s stock after buying an additional 2,000 shares during the period. Harvey Capital Management Inc.’s holdings in Ulta Beauty were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Ulta Beauty in the 2nd quarter worth approximately $552,000. CIBC World Markets Inc. grew its stake in shares of Ulta Beauty by 63.0% in the 2nd quarter. CIBC World Markets Inc. now owns 9,994 shares of the specialty retailer’s stock worth $2,872,000 after buying an additional 3,861 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Ulta Beauty by 38.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 117,681 shares of the specialty retailer’s stock worth $33,814,000 after buying an additional 32,455 shares during the last quarter. Biondo Investment Advisors LLC purchased a new stake in shares of Ulta Beauty in the 2nd quarter worth approximately $1,082,000. Finally, LS Investment Advisors LLC grew its stake in shares of Ulta Beauty by 17.6% in the 3rd quarter. LS Investment Advisors LLC now owns 2,706 shares of the specialty retailer’s stock worth $612,000 after buying an additional 405 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.
ULTA has been the topic of several recent research reports. Cowen and Company set a $336.00 price target on Ulta Beauty and gave the stock a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC set a $350.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research report on Monday, August 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Ulta Beauty in a research report on Monday, August 21st. Robert W. Baird set a $335.00 price objective on Ulta Beauty and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $300.00 price objective (down from $350.00) on shares of Ulta Beauty in a research report on Friday, August 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $274.11.
In other news, Director Michael R. Macdonald acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was purchased 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 directly owns 6,224 shares in the company, valued at approximately $1,296,894.88. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles Heilbronn acquired 127,889 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were purchased at an average price of $195.21 per share, with a total value of $24,965,211.69. The disclosure for this purchase can be found here. Corporate insiders own 5.20% of the company’s stock.
Shares of Ulta Beauty Inc. (ULTA) traded up $0.80 during mid-day trading on Wednesday, reaching $209.96. The company’s stock had a trading volume of 1,643,900 shares, compared to its average volume of 972,029. Ulta Beauty Inc. has a 1-year low of $187.96 and a 1-year high of $314.86. The stock has a market cap of $12,848.83, a price-to-earnings ratio of 28.34, a PEG ratio of 1.29 and a beta of 0.51.
Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.05. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $1.43 EPS. Ulta Beauty’s revenue for the quarter was up 20.7% compared to the same quarter last year. equities research analysts expect that Ulta Beauty Inc. will post 8.36 EPS for the current year.
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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