First Belief Direct Indexing L.P. Takes $320,000 Place in Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMay 7, 2024

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First Trust Direct Indexing L.P. bought a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 653 shares of the specialty retailer’s stock, valued at approximately $320,000.

Several other hedge funds have also recently added to or reduced their stakes in ULTA. Morgan Stanley raised its holdings in shares of Ulta Beauty by 56.7% in the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock valued at $614,568,000 after purchasing an additional 556,809 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Ulta Beauty by 45,740.3% during the 4th quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock worth $142,854,000 after buying an additional 290,908 shares during the last quarter. Boston Partners boosted its position in shares of Ulta Beauty by 86.5% during the 3rd quarter. Boston Partners now owns 342,547 shares of the specialty retailer’s stock worth $136,451,000 after acquiring an additional 158,897 shares in the last quarter. Scopus Asset Management L.P. purchased a new position in shares of Ulta Beauty in the 3rd quarter valued at about $39,945,000. Finally, Barclays PLC raised its position in shares of Ulta Beauty by 74.3% during the 3rd quarter. Barclays PLC now owns 221,882 shares of the specialty retailer’s stock worth $88,630,000 after acquiring an additional 94,581 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling

In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction on 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 transaction, the insider now directly owns 2,705 shares in the company, valued at approximately $1,420,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Kecia Steelman sold 20,950 shares of the business’s 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 completion of the sale, 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 SEC, which can be accessed through this link. Also, insider Anita Jane Ryan sold 3,102 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were 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 approximately $1,420,801.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,552 shares of company stock worth $12,920,326. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ULTA shares. Wells Fargo & Company lowered their price target on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating for the company in a report on Wednesday, April 24th. TD Cowen dropped their target price on shares of Ulta Beauty from $580.00 to $520.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Barclays cut shares of Ulta Beauty from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $612.00 to $434.00 in a research report on Monday, April 29th. DA Davidson reaffirmed a “buy” rating and set a $595.00 price objective on shares of Ulta Beauty in a report on Friday, March 15th. Finally, Robert W. Baird boosted their target price on Ulta Beauty from $575.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $548.05.

View Our Latest Report on Ulta Beauty

Ulta Beauty Stock Performance

ULTA stock opened at $394.88 on Tuesday. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76. The stock’s 50 day moving average price is $483.07 and its 200 day moving average price is $470.33. The firm has a market cap of $18.93 billion, a P/E ratio of 15.16, a PEG ratio of 1.63 and a beta of 1.36.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.52% and a return on equity of 61.64%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.68 EPS. On average, research analysts predict that Ulta Beauty, Inc. will post 26.55 earnings per share for the current year.

Ulta Beauty announced that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management 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.