Public Sector Pension Funding Board Purchases 537 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)
Public Sector Pension Investment Board grew its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,334 shares of the specialty retailer’s stock after purchasing an additional 537 shares during the quarter. Public Sector Pension Investment Board’s holdings in Ulta Beauty were worth $2,131,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Prudential PLC bought a new position in Ulta Beauty during the first quarter worth $425,000. Vanguard Group Inc. boosted its stake in Ulta Beauty by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after acquiring an additional 40,190 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Ulta Beauty by 2.8% during the first quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock worth $3,305,000 after acquiring an additional 223 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Ulta Beauty by 38.6% during the first quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock worth $444,000 after acquiring an additional 311 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Ulta Beauty by 59.1% during the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 26 shares in the last quarter. 92.30% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on ULTA shares. Oppenheimer reaffirmed an “outperform” rating and issued a $525.00 price objective on shares of Ulta Beauty in a research note on Friday, December 1st. Jefferies Financial Group raised their price objective on shares of Ulta Beauty from $587.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Piper Sandler raised their price objective on shares of Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Loop Capital increased their target price on shares of Ulta Beauty from $530.00 to $540.00 and gave the company a “hold” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus increased their target price on shares of Ulta Beauty from $505.00 to $565.00 and gave the company a “hold” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $579.81.
Check Out Our Latest Analysis on ULTA
Ulta Beauty Trading Down 0.6 %
ULTA stock opened at $529.08 on Wednesday. The firm has a 50 day moving average of $520.56 and a 200-day moving average of $457.76. Ulta Beauty, Inc. has a 12 month low of $368.02 and a 12 month high of $574.76. The firm has a market capitalization of $25.69 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.25 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 (EPS) for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $6.68 earnings per share. Sell-side analysts predict that Ulta Beauty, Inc. will post 26.77 EPS for the current year.
Ulta Beauty announced that its board has authorized a share buyback program on Thursday, March 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Ulta Beauty 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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