Concorde Asset Management LLC Lowers Stake in Ulta Beauty Inc (ULTA)

Concorde Asset Management LLC reduced its holdings in Ulta Beauty Inc (NASDAQ:ULTA) by 36.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 979 shares of the specialty retailer’s stock after selling 555 shares during the period. Concorde Asset Management LLC’s holdings in Ulta Beauty were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Huntington National Bank lifted its holdings in Ulta Beauty by 120.0% during the 2nd quarter. Huntington National Bank now owns 440 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 240 shares in the last quarter. Altman Advisors Inc. raised its holdings in shares of Ulta Beauty by 315.5% in the 2nd quarter. Altman Advisors Inc. now owns 32,854 shares of the specialty retailer’s stock valued at $142,000 after purchasing an additional 24,947 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at about $151,000. Dupont Capital Management Corp bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at about $162,000. Finally, Bridgewater Associates LP bought a new stake in shares of Ulta Beauty in the 2nd quarter valued at about $201,000. 91.36% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ULTA traded up $1.62 during trading hours on Thursday, reaching $303.76. 545,292 shares of the company were exchanged, compared to its average volume of 1,087,326. The stock has a market capitalization of $18.06 billion, a PE ratio of 37.23, a P/E/G ratio of 1.51 and a beta of 0.60. Ulta Beauty Inc has a twelve month low of $191.70 and a twelve month high of $322.49.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, August 30th. The specialty retailer reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.05. Ulta Beauty had a net margin of 9.91% and a return on equity of 33.29%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts predict that Ulta Beauty Inc will post 10.84 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. Telsey Advisory Group lifted their price objective on shares of Ulta Beauty from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. ValuEngine raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Stifel Nicolaus cut their price objective on shares of Ulta Beauty from $250.00 to $245.00 and set a “hold” rating on the stock in a research report on Friday, August 24th. Zacks Investment Research raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Loop Capital reissued a “hold” rating and set a $280.00 target price (up previously from $250.00) on shares of Ulta Beauty in a research report on Thursday, September 13th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Ulta Beauty presently has a consensus rating of “Buy” and a consensus price target of $282.12.

In other news, Director Dennis K. Eck sold 31,278 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $285.88, for a total transaction of $8,941,754.64. Following the completion of the sale, the director now owns 334,778 shares of the company’s stock, valued at $95,706,334.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lorna Nagler sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $276.19, for a total transaction of $552,380.00. Following the completion of the sale, the director now directly owns 7,923 shares of the company’s stock, valued at approximately $2,188,253.37. The disclosure for this sale can be found here. Insiders have sold 68,407 shares of company stock valued at $19,580,698 in the last ninety days. Insiders own 5.60% of the company’s stock.

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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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