American Century Firms Inc. Reduces Holdings in Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 18, 2024

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American Century Companies Inc. cut its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,407 shares of the specialty retailer’s stock after selling 241 shares during the quarter. American Century Companies Inc.’s holdings in Ulta Beauty were worth $37,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ULTA. Price T Rowe Associates Inc. MD raised its position in Ulta Beauty by 125.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock valued at $717,932,000 after purchasing an additional 852,258 shares during the last quarter. Morgan Stanley raised its position in Ulta Beauty by 56.7% during the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after purchasing an additional 556,809 shares during the last quarter. Holocene Advisors LP bought a new position in Ulta Beauty during the 2nd quarter valued at approximately $207,721,000. Norges Bank bought a new position in Ulta Beauty during the 4th quarter valued at approximately $205,146,000. Finally, BlackRock Inc. raised its position in Ulta Beauty by 9.5% during the 2nd quarter. BlackRock Inc. now owns 4,236,208 shares of the specialty retailer’s stock valued at $1,993,538,000 after purchasing an additional 367,437 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Evercore ISI lowered their price target on Ulta Beauty from $656.00 to $635.00 in a research report on Friday. UBS Group increased their target price on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Oppenheimer reissued an “outperform” rating and issued a $525.00 target price on shares of Ulta Beauty in a research report on Friday, December 1st. Robert W. Baird increased their target price on Ulta Beauty from $550.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. Finally, Citigroup increased their target price on Ulta Beauty from $440.00 to $485.00 and gave the stock a “neutral” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $546.90.

Read Our Latest Stock Report on Ulta Beauty

Ulta Beauty Trading Down 5.2 %

Shares of ULTA opened at $535.98 on Monday. The business’s fifty day simple moving average is $518.69 and its two-hundred day simple moving average is $456.14. Ulta Beauty, Inc. has a 12 month low of $368.02 and a 12 month high of $574.76. The company has a market cap of $26.03 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.35 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its earnings results 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 return on equity of 61.42% and a net margin of 11.37%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the business posted $6.68 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Ulta Beauty, Inc. will post 25.46 EPS for the current year.

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

About Ulta Beauty

(Free Report)

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.