Raleigh Capital Administration Inc. Purchases 22 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 15, 2024

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Raleigh Capital Management Inc. increased its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 535 shares of the specialty retailer’s stock after buying an additional 22 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Ulta Beauty were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ULTA. Coppell Advisory Solutions LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter worth approximately $26,000. Ancora Advisors LLC bought a new stake in Ulta Beauty in the first quarter worth $31,000. Fortis Capital Advisors LLC bought a new stake in Ulta Beauty in the first quarter worth $31,000. Carolinas Wealth Consulting LLC boosted its position in Ulta Beauty by 106.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 62 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 32 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of 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 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 Down 0.3 %

ULTA opened at $565.44 on Friday. Ulta Beauty, Inc. has a twelve month low of $368.02 and a twelve month high of $574.76. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.35 and a beta of 1.31. The firm has a 50 day moving average price of $517.40 and a 200-day moving average price of $454.75.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its earnings results on Thursday, March 14th. The specialty retailer reported $8.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.53 by $0.55. Ulta Beauty had a return on equity of 61.42% and a net margin of 11.37%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the firm posted $6.68 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts expect that Ulta Beauty, Inc. will post 25.46 earnings per share for the current year.

Ulta Beauty declared that its board has authorized a stock buyback plan on Thursday, March 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. DA Davidson raised their price target on Ulta Beauty from $495.00 to $530.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. 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. Piper Sandler raised their price target on shares of Ulta Beauty from $540.00 to $572.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Citigroup upped their price target on Ulta Beauty from $440.00 to $485.00 and gave the company a “neutral” rating in a research report on Friday, December 1st. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $600.00 target price on shares of Ulta Beauty in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $535.35.

Get Our Latest Stock Analysis on ULTA

Ulta Beauty 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.