Washington Capital Administration Inc. Buys 200 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 31, 2024

0 0 4 minutes read

Washington Capital Management Inc. increased its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 16.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,400 shares of the specialty retailer’s stock after purchasing an additional 200 shares during the quarter. Washington Capital Management Inc.’s holdings in Ulta Beauty were worth $686,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P increased 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 valued at $26,000 after purchasing an additional 51 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Ulta Beauty during the 2nd quarter valued at approximately $26,000. BKM Wealth Management LLC bought a new position in shares of Ulta Beauty during the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its position in shares of Ulta Beauty by 59.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its holdings in Ulta Beauty by 7,300.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 73 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

ULTA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Ulta Beauty from $535.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Ulta Beauty from $574.00 to $627.00 in a report on Friday, March 15th. Piper Sandler boosted their price objective on Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Raymond James boosted their price objective on Ulta Beauty from $575.00 to $630.00 and gave the company a “strong-buy” rating in a report on Monday, March 18th. Finally, Robert W. Baird boosted their price objective on Ulta Beauty from $575.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and a consensus target price of $577.70.

Get Our Latest Stock Analysis on Ulta Beauty

Insider Activity

In other news, COO Kecia Steelman sold 20,950 shares of the stock in a transaction dated Tuesday, March 19th. The stock was 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 of the company’s stock, valued at $5,523,936.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the sale, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kecia Steelman sold 20,950 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was 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 owns 10,494 shares in the company, valued at approximately $5,523,936.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,552 shares of company stock valued at $12,920,326. Company insiders own 0.34% of the company’s stock.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $522.88 on Friday. The business’s 50-day moving average is $527.01 and its 200 day moving average is $462.91. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76. The firm has a market capitalization of $25.24 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.07 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.68 earnings per share. On average, analysts expect that Ulta Beauty, Inc. will post 26.94 EPS for the current year.

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

Ulta Beauty Company Profile

(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.