Waycross Partners LLC Has $11.22 Million Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Waycross Partners LLC lessened its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 24.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,904 shares of the specialty retailer’s stock after selling 7,589 shares during the quarter. Ulta Beauty comprises approximately 2.1% of Waycross Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Waycross Partners LLC’s holdings in Ulta Beauty were worth $11,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ulta Beauty during the 4th quarter worth approximately $25,000. Loomis Sayles & Co. L P grew its position in shares of Ulta Beauty by 364.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after buying an additional 51 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Ulta Beauty during the 4th quarter worth approximately $28,000. VisionPoint Advisory Group LLC grew its position in shares of Ulta Beauty by 7,300.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock worth $30,000 after buying an additional 73 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Ulta Beauty during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

ULTA traded down $5.20 during trading on Tuesday, reaching $404.84. 904,746 shares of the stock were exchanged, compared to its average volume of 769,469. The stock has a market cap of $19.41 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30. Ulta Beauty, Inc. has a twelve month low of $368.02 and a twelve month high of $574.76. The stock’s 50 day moving average price is $495.01 and its two-hundred day moving average price is $469.79.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the company earned $6.68 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Ulta Beauty, Inc. will post 26.55 earnings per share for the current fiscal year.

Ulta Beauty declared that its board has approved a stock buyback plan on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the transaction, the insider now directly owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Kecia Steelman sold 20,950 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total value of $11,027,870.50. Following the transaction, the chief operating officer now directly owns 10,494 shares in the company, valued at $5,523,936.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction of $1,629,325.50. Following the completion of the transaction, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The disclosure for this sale can be found here. Insiders have sold a total of 24,552 shares of company stock worth $12,920,326 over the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ULTA shares. Wells Fargo & Company lowered their price target on shares of Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a research report on Wednesday, April 24th. Jefferies Financial Group reiterated a “hold” rating and set a $438.00 price target (down previously from $585.00) on shares of Ulta Beauty in a research report on Friday, April 19th. Morgan Stanley lifted their price objective on shares of Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Friday, March 15th. TD Cowen reduced their price objective on shares of Ulta Beauty from $580.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, UBS Group lifted their price objective on shares of Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $548.05.

Ulta Beauty Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.