Public Staff Retirement System of Ohio Decreases Inventory Place in Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 17, 2024

0 0 3 minutes read

Public Employees Retirement System of Ohio lowered its stake in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,699 shares of the specialty retailer’s stock after selling 1,812 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ulta Beauty were worth $12,263,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter worth about $26,000. Ancora Advisors LLC bought a new stake in shares of Ulta Beauty in the 1st quarter worth about $31,000. Fortis Capital Advisors LLC bought a new stake in shares of Ulta Beauty in the 1st quarter worth about $31,000. Carolinas Wealth Consulting LLC increased its holdings in shares of Ulta Beauty by 106.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 62 shares of the specialty retailer’s stock worth $34,000 after buying an additional 32 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Ulta Beauty by 364.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 65 shares of the specialty retailer’s stock worth $26,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Ulta Beauty Stock Performance

Shares of ULTA opened at $535.98 on Friday. The company has a 50 day moving average price of $518.69 and a 200-day moving average price of $455.90. Ulta Beauty, Inc. has a fifty-two week low of $368.02 and a fifty-two week high of $574.76. The stock has a market capitalization of $26.03 billion, a PE ratio of 21.74, a PEG ratio of 2.35 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating analysts’ consensus estimates of $7.49 by $0.59. Ulta Beauty had a net margin of 11.37% and a return on equity of 61.42%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the company posted $6.68 earnings per share. Ulta Beauty’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Ulta Beauty, Inc. will post 25.46 EPS for the current year.

Ulta Beauty announced that its board has approved 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 a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ULTA has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Ulta Beauty from $656.00 to $635.00 in a report on Friday. Robert W. Baird upped their price target on shares of Ulta Beauty from $550.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $600.00 price target on shares of Ulta Beauty in a report on Monday, November 27th. DA Davidson upped their price target on shares of Ulta Beauty from $495.00 to $530.00 and gave the company a “buy” rating in a report on Friday, December 1st. Finally, Wells Fargo & Company upped their price target on shares of Ulta Beauty from $375.00 to $400.00 and gave the company an “underweight” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $546.90.

View Our Latest Stock Analysis on ULTA

About Ulta Beauty

(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.