JPMorgan Chase & Co. cut its holdings in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 3.9% during the 1st quarter, Holdings Channel reports. The firm owned 291,577 shares of the specialty retailer’s stock after selling 11,857 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ulta Beauty were worth $101,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ETF Managers Group LLC increased its position in shares of Ulta Beauty by 9.7% during the first quarter. ETF Managers Group LLC now owns 700 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 62 shares during the period. Hendershot Investments Inc. increased its position in shares of Ulta Beauty by 1.0% during the first quarter. Hendershot Investments Inc. now owns 12,363 shares of the specialty retailer’s stock valued at $4,311,000 after buying an additional 119 shares during the period. Mason Street Advisors LLC increased its position in shares of Ulta Beauty by 1.2% during the first quarter. Mason Street Advisors LLC now owns 8,039 shares of the specialty retailer’s stock valued at $2,803,000 after buying an additional 95 shares during the period. Monetta Financial Services Inc. bought a new stake in shares of Ulta Beauty during the first quarter valued at about $593,000. Finally, Motley Fool Asset Management LLC bought a new stake in shares of Ulta Beauty during the first quarter valued at about $325,000. 89.57% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on ULTA. Oppenheimer upped their price target on Ulta Beauty to $400.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and set a $395.00 price target (up from $365.00) on shares of Ulta Beauty in a research report on Thursday, April 18th. Morgan Stanley upped their price target on Ulta Beauty from $355.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Piper Jaffray Companies upped their price objective on shares of Ulta Beauty from $362.00 to $378.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Zacks Investment Research upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $388.00 price objective on the stock in a research report on Thursday, May 9th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Ulta Beauty presently has an average rating of “Buy” and a consensus target price of $343.29.

ULTA stock opened at $335.09 on Friday. The company has a market capitalization of $19.69 billion, a P/E ratio of 30.88, a P/E/G ratio of 1.50 and a beta of 0.99. Ulta Beauty Inc has a 1-year low of $224.43 and a 1-year high of $359.69.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 14th. The specialty retailer reported $3.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.56 by $0.05. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.11 billion. Ulta Beauty had a return on equity of 36.09% and a net margin of 9.80%. Ulta Beauty’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. On average, analysts anticipate that Ulta Beauty Inc will post 12.79 EPS for the current year.

In other Ulta Beauty news, Director Catherine Ann Halligan sold 704 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $342.97, for a total value of $241,450.88. Following the completion of the sale, the director now owns 10,423 shares of the company’s stock, valued at $3,574,776.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary N. Dillon sold 120,949 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $334.42, for a total value of $40,447,764.58. Following the completion of the sale, the chief executive officer now directly owns 87,712 shares of the company’s stock, valued at approximately $29,332,647.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 426,250 shares of company stock valued at $143,394,373. 5.60% of the stock is owned by insiders.

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Ulta Beauty Profile

Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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