Pacer Advisors Inc. Sells 1,335 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 31, 2024

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Pacer Advisors Inc. trimmed its stake in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,790 shares of the specialty retailer’s stock after selling 1,335 shares during the quarter. Pacer Advisors Inc.’s holdings in Ulta Beauty were worth $1,857,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT grew its holdings in Ulta Beauty by 1.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 1,260 shares of the specialty retailer’s stock worth $591,000 after purchasing an additional 20 shares during the period. Raleigh Capital Management Inc. grew its holdings in Ulta Beauty by 4.3% in the third quarter. Raleigh Capital Management Inc. now owns 535 shares of the specialty retailer’s stock worth $214,000 after purchasing an additional 22 shares during the period. Pathstone Family Office LLC grew its holdings in Ulta Beauty by 0.8% in the fourth quarter. Pathstone Family Office LLC now owns 2,852 shares of the specialty retailer’s stock worth $1,338,000 after purchasing an additional 22 shares during the period. Wetherby Asset Management Inc. grew its holdings in Ulta Beauty by 4.9% in the first quarter. Wetherby Asset Management Inc. now owns 491 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 23 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of Ulta Beauty by 3.0% during the third quarter. CENTRAL TRUST Co now owns 835 shares of the specialty retailer’s stock valued at $335,000 after buying an additional 24 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 1.8 %

NASDAQ ULTA opened at $522.88 on Friday. The company’s 50 day moving average is $527.01 and its 200-day moving average is $462.91. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month high of $574.76. The firm has a market cap of $25.24 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.49 by $0.59. The company 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 quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.68 earnings per share. Equities analysts expect that Ulta Beauty, Inc. will post 26.94 EPS for the current year.

Ulta Beauty declared that its board has approved a share buyback program on Thursday, March 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Ulta Beauty

In related news, COO Kecia Steelman sold 20,950 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the transaction, the chief operating officer now 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 is available through this hyperlink. In other Ulta Beauty news, COO Kecia Steelman sold 20,950 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 10,494 shares of the company’s stock, valued at approximately $5,523,936.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anita Jane Ryan sold 3,102 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,552 shares of company stock valued at $12,920,326. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ULTA shares. BMO Capital Markets lifted their price objective 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. Argus lifted their price objective on shares of Ulta Beauty from $500.00 to $545.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $535.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Evercore ISI lowered their price objective on shares of Ulta Beauty from $656.00 to $635.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, Barclays lifted their price objective on shares of Ulta Beauty from $583.00 to $612.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.70.

Read Our Latest Research Report on ULTA

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.