Cornerstone Wealth Administration LLC Lowers Inventory Holdings in Ulta Magnificence, Inc. (NASDAQ:ULTA)
Cornerstone Wealth Management LLC reduced its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 623 shares of the specialty retailer’s stock after selling 22 shares during the period. Cornerstone Wealth Management LLC’s holdings in Ulta Beauty were worth $305,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. Loomis Sayles & Co. L P boosted its holdings in shares of Ulta Beauty by 364.3% in 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 acquired a new position in shares of Ulta Beauty in the 2nd quarter valued at $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of Ulta Beauty by 59.1% in 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. VisionPoint Advisory Group LLC boosted its holdings in shares of Ulta Beauty by 7,300.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 74 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $31,000. 92.30% of the stock is owned by hedge funds and other institutional investors.
Ulta Beauty Stock Down 1.0 %
Shares of NASDAQ:ULTA opened at $523.96 on Thursday. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76. The firm has a 50-day simple moving average of $521.42 and a 200 day simple moving average of $458.22. The company has a market cap of $25.44 billion, a PE ratio of 20.11, a P/E/G ratio of 2.09 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. Ulta Beauty had a net margin of 11.52% and a return on equity of 61.64%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $6.68 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Ulta Beauty, Inc. will post 26.94 EPS for the current fiscal year.
Ulta Beauty declared that its board has approved 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 reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
Several research firms recently weighed in on ULTA. BMO Capital Markets lifted their target price on shares of Ulta Beauty from $485.00 to $540.00 and gave the company a “market perform” rating in a report on Friday, March 15th. Robert W. Baird lifted their target price on shares of Ulta Beauty from $575.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Telsey Advisory Group restated an “outperform” rating and set a $600.00 target price on shares of Ulta Beauty in a report on Friday, March 15th. Raymond James lifted their target price on shares of Ulta Beauty from $575.00 to $630.00 and gave the company a “strong-buy” rating in a report on Monday. Finally, Piper Sandler lifted their target price on shares of Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $579.81.
View Our Latest Stock Report on ULTA
Ulta Beauty Company Profile
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.
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