Lincoln Nationwide Corp Reduces Stake in Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMay 14, 2024

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Lincoln National Corp reduced its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 43.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 550 shares of the specialty retailer’s stock after selling 415 shares during the period. Lincoln National Corp’s holdings in Ulta Beauty were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Ulta Beauty during the fourth quarter valued at $25,000. Loomis Sayles & Co. L P increased its stake in Ulta Beauty by 364.3% during the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 51 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Ulta Beauty during the fourth quarter worth approximately $28,000. VisionPoint Advisory Group LLC increased its stake in Ulta Beauty by 7,300.0% during the third quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Ulta Beauty during the fourth quarter valued at approximately $33,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ulta Beauty

In related news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 2,705 shares of the company’s stock, valued at approximately $1,420,801.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ulta Beauty news, Director Catherine Ann Halligan sold 500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the completion of the sale, the director now directly owns 1,665 shares of the company’s stock, valued at approximately $876,222.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,552 shares of company stock valued at $12,920,326. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on Ulta Beauty from $480.00 to $525.00 and gave the company an “equal weight” rating in a research note on Friday, March 15th. Piper Sandler lowered their price target on Ulta Beauty from $665.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Barclays lowered Ulta Beauty from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $612.00 to $434.00 in a report on Monday, April 29th. Stifel Nicolaus boosted their price target on Ulta Beauty from $505.00 to $565.00 and gave the company a “hold” rating in a report on Friday, March 15th. Finally, Wells Fargo & Company lowered their target price on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $546.86.

View Our Latest Stock Report on Ulta Beauty

Ulta Beauty Trading Up 0.6 %

ULTA stock opened at $403.96 on Tuesday. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.65 and a beta of 1.36. The business’s 50-day moving average is $470.29 and its 200 day moving average is $470.88.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted 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 return on equity of 61.64% and a net margin of 11.52%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the company earned $6.68 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Ulta Beauty, Inc. will post 26.48 EPS for the current fiscal year.

Ulta Beauty announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Ulta Beauty Company Profile

(Free Report)

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.