State of Alaska Division of Income Sells 2,920 Shares of Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 31, 2024

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State of Alaska Department of Revenue trimmed its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 16.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,045 shares of the specialty retailer’s stock after selling 2,920 shares during the period. State of Alaska Department of Revenue’s holdings in Ulta Beauty were worth $7,370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ULTA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ulta Beauty by 125.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,530,543 shares of the specialty retailer’s stock worth $717,932,000 after buying an additional 852,258 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Ulta Beauty by 56.7% during the 3rd quarter. Morgan Stanley now owns 1,538,533 shares of the specialty retailer’s stock worth $614,568,000 after buying an additional 556,809 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Ulta Beauty during the 2nd quarter worth approximately $207,721,000. Norges Bank bought a new position in shares of Ulta Beauty during the 4th quarter worth approximately $205,146,000. Finally, Boston Partners boosted its holdings in shares of Ulta Beauty by 86.5% during the 3rd quarter. Boston Partners now owns 342,547 shares of the specialty retailer’s stock worth $136,451,000 after buying an additional 158,897 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insider Transactions at Ulta Beauty

In other 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 completion of the transaction, the insider now owns 2,705 shares in the company, valued at approximately $1,420,801.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction of $263,130.00. Following the completion of the transaction, the director now owns 1,665 shares in the company, valued at approximately $876,222.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the insider now 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. In the last 90 days, insiders sold 24,552 shares of company stock worth $12,920,326. 0.34% of the stock is owned by company insiders.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $522.88 on Friday. Ulta Beauty, Inc. has a 1 year low of $368.02 and a 1 year high of $574.76. The firm has a market cap of $25.24 billion, a PE ratio of 20.07, a P/E/G ratio of 2.07 and a beta of 1.31. The stock has a fifty day moving average price of $527.01 and a 200-day moving average price of $462.91.

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, beating the consensus estimate of $7.49 by $0.59. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm posted $6.68 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Ulta Beauty, Inc. will post 26.94 EPS for the current fiscal year.

Ulta Beauty declared that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ULTA. Deutsche Bank Aktiengesellschaft upped their target price on Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. Argus upped their target price on Ulta Beauty from $500.00 to $545.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. upped their target price on Ulta Beauty from $535.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. DA Davidson reaffirmed a “buy” rating and set a $595.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $600.00 target price on shares of Ulta Beauty in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $577.70.

View Our Latest 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.