Insider Promoting: Ulta Magnificence, Inc. (NASDAQ:ULTA) COO Sells 20,950 Shares of Inventory

Daily SF NewsMarch 23, 2024

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Ulta Beauty, Inc. (NASDAQ:ULTA – Get Free Report) COO Kecia Steelman sold 20,950 shares of the stock in a transaction dated Tuesday, March 19th. The shares were 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 in the company, valued at approximately $5,523,936.66. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Ulta Beauty Trading Down 0.6 %

Ulta Beauty stock opened at $520.37 on Friday. The firm has a market capitalization of $25.27 billion, a P/E ratio of 19.98, a PEG ratio of 2.07 and a beta of 1.31. The stock has a fifty day moving average price of $522.24 and a 200 day moving average price of $458.67. Ulta Beauty, Inc. has a 52 week low of $368.02 and a 52 week high of $574.76.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last released its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.68 earnings per share. As a group, equities analysts predict that Ulta Beauty, Inc. will post 26.94 EPS for the current year.

Ulta Beauty announced that its board has initiated a share buyback plan on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Ulta Beauty

A number of institutional investors have recently added to or reduced their stakes in ULTA. Turtle Creek Wealth Advisors LLC purchased a new stake in Ulta Beauty during the fourth quarter valued at about $25,000. Loomis Sayles & Co. L P grew its position in Ulta Beauty by 364.3% during the third quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 51 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in shares of Ulta Beauty in the second quarter worth about $26,000. Vima LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter worth about $27,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. 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. Citigroup lifted their target price on Ulta Beauty from $440.00 to $485.00 and gave the company a “neutral” rating in a research note on Friday, December 1st. Stifel Nicolaus lifted their target price on Ulta Beauty from $505.00 to $565.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Finally, Barclays lifted their target price on Ulta Beauty from $583.00 to $612.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued 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 an average price target of $579.81.

Check Out Our Latest Stock Report on Ulta Beauty

About Ulta Beauty

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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.