Harvey Investment Co. LLC Decreases Position in Ulta Beauty Inc (ULTA)

Harvey Investment Co. LLC trimmed its position in Ulta Beauty Inc (NASDAQ:ULTA) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,767 shares of the specialty retailer’s stock after selling 585 shares during the period. Ulta Beauty makes up about 2.1% of Harvey Investment Co. LLC’s portfolio, making the stock its 19th largest holding. Harvey Investment Co. LLC owned 0.06% of Ulta Beauty worth $12,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC lifted its position in Ulta Beauty by 19.0% in the first quarter. Chartwell Investment Partners LLC now owns 17,355 shares of the specialty retailer’s stock worth $6,052,000 after purchasing an additional 2,766 shares during the period. DNB Asset Management AS acquired a new stake in shares of Ulta Beauty during the 1st quarter valued at $3,499,000. Pacer Advisors Inc. lifted its position in shares of Ulta Beauty by 21,157.9% during the 1st quarter. Pacer Advisors Inc. now owns 8,078 shares of the specialty retailer’s stock valued at $2,817,000 after acquiring an additional 8,040 shares during the last quarter. Bank of The West lifted its position in shares of Ulta Beauty by 13.0% during the 1st quarter. Bank of The West now owns 6,846 shares of the specialty retailer’s stock valued at $2,387,000 after acquiring an additional 787 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC lifted its position in shares of Ulta Beauty by 68.8% during the 1st quarter. Atalanta Sosnoff Capital LLC now owns 29,172 shares of the specialty retailer’s stock valued at $10,173,000 after acquiring an additional 11,885 shares during the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.

ULTA opened at $341.96 on Friday. The firm has a market capitalization of $20.09 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. Ulta Beauty Inc has a 12-month low of $224.43 and a 12-month high of $359.69.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, March 14th. The specialty retailer reported $3.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.56 by $0.05. Ulta Beauty had a return on equity of 36.09% and a net margin of 9.80%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company earned $2.75 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Ulta Beauty Inc will post 12.78 EPS for the current fiscal year.

ULTA has been the subject of a number of recent research reports. Wells Fargo & Co increased their price objective on Ulta Beauty from $280.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Loop Capital increased their price objective on Ulta Beauty to $340.00 and gave the company a “hold” rating in a research report on Monday, March 18th. They noted that the move was a valuation call. Nomura reiterated a “neutral” rating and set a $311.00 price objective (up previously from $305.00) on shares of Ulta Beauty in a research report on Tuesday, February 19th. They noted that the move was a valuation call. ValuEngine upgraded Ulta Beauty from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Finally, Piper Jaffray Companies increased their price objective on Ulta Beauty to $318.00 and gave the company a “positive” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $338.30.

In other Ulta Beauty news, Director Charles Heilbronn sold 161,890 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $335.01, for a total transaction of $54,234,768.90. Following the transaction, the director now directly owns 59,923 shares of the company’s stock, valued at $20,074,804.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis K. Eck sold 10,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $352.83, for a total transaction of $3,528,300.00. Following the transaction, the director now directly owns 220,000 shares in the company, valued at $77,622,600. The disclosure for this sale can be found here. Insiders sold 426,250 shares of company stock worth $143,394,373 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

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About Ulta Beauty

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