Raymond James Trust N.A. boosted its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,302 shares of the specialty retailer’s stock after buying an additional 544 shares during the quarter. Raymond James Trust N.A.’s holdings in Ulta Beauty were worth $1,618,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. Prudential PLC acquired a new position in Ulta Beauty during the 1st quarter worth about $425,000. Vanguard Group Inc. lifted its stake in shares of Ulta Beauty by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock valued at $2,344,096,000 after purchasing an additional 40,190 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Ulta Beauty by 2.8% in the 1st quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock valued at $3,305,000 after purchasing an additional 223 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Ulta Beauty by 38.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,117 shares of the specialty retailer’s stock valued at $444,000 after purchasing an additional 311 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Ulta Beauty by 59.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 26 shares during the period. 92.30% of the stock is owned by institutional investors and hedge funds.
Ulta Beauty Stock Down 0.1 %
ULTA stock opened at $523.55 on Friday. The firm has a market cap of $25.42 billion, a PE ratio of 20.10, a P/E/G ratio of 2.07 and a beta of 1.31. The business has a 50 day moving average of $521.42 and a 200-day moving average of $458.22. Ulta Beauty, Inc. has a 12-month low of $368.02 and a 12-month 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 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 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%. Ulta Beauty’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $6.68 earnings per share. On average, research analysts expect that Ulta Beauty, Inc. will post 26.94 earnings per share for the current year.
Ulta Beauty announced that its Board of Directors has initiated a share buyback program on Thursday, March 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Insider Activity at Ulta Beauty
In other Ulta Beauty news, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction 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 sale, the insider now owns 2,705 shares in the company, valued at $1,420,801.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Catherine Ann Halligan sold 500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $526.26, for a total value of $263,130.00. Following the sale, the director now owns 1,665 shares in the company, valued at $876,222.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $525.25, for a total value of $1,629,325.50. Following the completion of the sale, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,552 shares of company stock worth $12,920,326. Insiders own 0.34% of the company’s stock.
Wall Street Analyst Weigh In
ULTA has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Ulta Beauty from $587.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Loop Capital boosted their price objective on Ulta Beauty from $530.00 to $540.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Oppenheimer reissued an “outperform” rating and issued a $525.00 price objective on shares of Ulta Beauty in a research note on Friday, December 1st. Piper Sandler boosted their price objective on Ulta Beauty from $635.00 to $665.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Robert W. Baird upped their price target on Ulta Beauty from $575.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $579.81.
Check Out Our Latest Stock Report on ULTA
Ulta Beauty Company 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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