CENTRAL TRUST Co Buys 35 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsApril 8, 2024

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CENTRAL TRUST Co grew its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,564 shares of the specialty retailer’s stock after acquiring an additional 35 shares during the period. CENTRAL TRUST Co’s holdings in Ulta Beauty were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Coppell Advisory Solutions LLC bought a new position in Ulta Beauty in the 2nd quarter worth approximately $26,000. Ancora Advisors LLC purchased a new stake in Ulta Beauty in the 1st quarter worth approximately $31,000. Fortis Capital Advisors LLC purchased a new stake in Ulta Beauty in the 1st quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new stake in Ulta Beauty in the 4th quarter worth approximately $28,000. Finally, Carolinas Wealth Consulting LLC lifted its stake in Ulta Beauty by 106.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 62 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 32 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Trading Down 0.9 %

Shares of ULTA opened at $444.75 on Monday. The firm’s 50-day moving average price is $526.20 and its 200-day moving average price is $465.86. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.77 and a beta of 1.30. Ulta Beauty, Inc. has a 1-year low of $368.02 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its earnings results 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 firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.68 EPS. On average, research analysts forecast that Ulta Beauty, Inc. will post 26.81 EPS for the current fiscal year.

Ulta Beauty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty retailer to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ULTA shares. Jefferies Financial Group increased their target price on shares of Ulta Beauty from $587.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Robert W. Baird raised their price objective on shares of Ulta Beauty from $575.00 to $625.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Morgan Stanley raised their price objective on shares of Ulta Beauty from $480.00 to $525.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Raymond James lowered their price objective on shares of Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $595.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.45.

View Our Latest Analysis on ULTA

Insider Activity at Ulta Beauty

In related news, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Anita Jane Ryan sold 3,102 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Catherine Ann Halligan sold 500 shares of Ulta Beauty stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $526.26, for a total transaction of $263,130.00. Following the transaction, the director now directly owns 1,665 shares of the company’s stock, valued at $876,222.90. The disclosure for this sale can be found here. Insiders sold a total of 24,552 shares of company stock valued at $12,920,326 in the last three months. Company insiders own 0.34% of the company’s stock.

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.