Bayesian Capital Administration LP Buys 3,020 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsJune 13, 2024

0 2 4 minutes read

Bayesian Capital Management LP lifted its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 58.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,200 shares of the specialty retailer’s stock after purchasing an additional 3,020 shares during the quarter. Bayesian Capital Management LP’s holdings in Ulta Beauty were worth $4,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley grew its stake in shares of Ulta Beauty by 56.7% during the third quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock worth $614,568,000 after buying an additional 556,809 shares during the last quarter. Norges Bank acquired a new position in Ulta Beauty in the 4th quarter worth about $263,192,000. International Assets Investment Management LLC raised its position in Ulta Beauty by 45,740.3% in the fourth quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock valued at $142,854,000 after purchasing an additional 290,908 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Ulta Beauty by 177.8% during the fourth quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock valued at $199,596,000 after purchasing an additional 260,740 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Ulta Beauty by 148.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 226,121 shares of the specialty retailer’s stock valued at $110,797,000 after purchasing an additional 135,133 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 0.6 %

Shares of NASDAQ:ULTA opened at $390.12 on Thursday. 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 is $404.85 and its 200-day moving average is $469.35. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.66 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.19 by $0.28. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.88 earnings per share. Equities research analysts anticipate that Ulta Beauty, Inc. will post 25.76 earnings per share for the current fiscal year.

Ulta Beauty declared that its board has authorized a stock buyback program on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Ulta Beauty from $630.00 to $500.00 and set an “outperform” rating for the company in a report on Friday, May 31st. UBS Group raised their price target on shares of Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Jefferies Financial Group reduced their price objective on shares of Ulta Beauty from $438.00 to $412.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Bank of America decreased their price objective on Ulta Beauty from $575.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $507.30.

Check Out Our Latest Stock Report on ULTA

Insider Activity at Ulta Beauty

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total transaction 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 approximately $1,420,801.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Kecia Steelman sold 20,950 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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 quarter, insiders have sold 24,552 shares of company stock valued at $12,920,326. 0.39% of the stock is owned by corporate insiders.

Ulta Beauty 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.