Cresset Asset Management LLC Sells 5,335 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Cresset Asset Management LLC cut its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 73.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944 shares of the specialty retailer’s stock after selling 5,335 shares during the period. Cresset Asset Management LLC’s holdings in Ulta Beauty were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer’s stock worth $520,587,000 after acquiring an additional 11,205 shares in the last quarter. Capital World Investors bought a new stake in Ulta Beauty in the 4th quarter worth about $430,674,000. Northern Trust Corp grew its position in Ulta Beauty by 14.7% in the 4th quarter. Northern Trust Corp now owns 562,155 shares of the specialty retailer’s stock worth $244,498,000 after purchasing an additional 72,004 shares in the last quarter. Norges Bank bought a new stake in Ulta Beauty in the 4th quarter worth about $239,432,000. Finally, Dimensional Fund Advisors LP grew its position in Ulta Beauty by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 466,584 shares of the specialty retailer’s stock worth $202,936,000 after purchasing an additional 12,158 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group reduced their price objective on shares of Ulta Beauty from $538.00 to $526.00 and set a “buy” rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective on shares of Ulta Beauty from $480.00 to $475.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Piper Sandler reduced their price objective on shares of Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Argus cut shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $427.17.

Insider Transactions at Ulta Beauty

In other news, insider Jodi J. Caro sold 902 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the transaction, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Ulta Beauty Trading Up 5.2%

Shares of ULTA stock opened at $412.38 on Tuesday. The stock has a market capitalization of $18.62 billion, a P/E ratio of 16.50, a PEG ratio of 0.89 and a beta of 1.06. The firm’s 50 day moving average is $365.70 and its 200 day moving average is $384.63. Ulta Beauty, Inc. has a 12 month low of $309.01 and a 12 month high of $460.00.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $8.08 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

About Ulta Beauty

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.