GAMMA Investing LLC Acquires 56 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsJune 23, 2024

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GAMMA Investing LLC grew its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 30.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242 shares of the specialty retailer’s stock after purchasing an additional 56 shares during the period. GAMMA Investing LLC’s holdings in Ulta Beauty were worth $127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth $25,000. Vima LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth $27,000. BKM Wealth Management LLC bought a new stake in shares of Ulta Beauty in the 4th quarter worth $28,000. VisionPoint Advisory Group LLC increased 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 worth $30,000 after purchasing an additional 73 shares in the last quarter. Finally, Webster Bank N. A. bought a new stake in shares of Ulta Beauty in the 4th quarter worth $33,000. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Up 1.4 %

NASDAQ ULTA opened at $383.85 on Friday. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36. The business has a 50-day moving average price of $396.08 and a 200-day moving average price of $466.45. Ulta Beauty, Inc. has a twelve month low of $368.02 and a twelve month high of $574.76.

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 analysts’ consensus estimates of $6.19 by $0.28. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.72 billion. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.88 earnings per share. Research analysts expect that Ulta Beauty, Inc. will post 25.76 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ULTA shares. Piper Sandler dropped their price target on Ulta Beauty from $505.00 to $498.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. UBS Group raised their price target on Ulta Beauty from $575.00 to $690.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Barclays downgraded Ulta Beauty from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $612.00 to $434.00 in a research note on Monday, April 29th. Wells Fargo & Company dropped their price target on Ulta Beauty from $450.00 to $350.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Loop Capital upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 price target on the stock in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.30.

Check Out Our Latest Stock Analysis on ULTA

About Ulta Beauty

(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.