Trade Traded Ideas LLC Will increase Inventory Holdings in Ulta Magnificence, Inc. (NASDAQ:ULTA)

Daily SF NewsMarch 18, 2024

0 0 4 minutes read

Exchange Traded Concepts LLC increased its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,567 shares of the specialty retailer’s stock after purchasing an additional 238 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Ulta Beauty were worth $1,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Prudential PLC purchased a new stake in shares of Ulta Beauty in the first quarter valued at $425,000. Vanguard Group Inc. raised its position in Ulta Beauty by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,886,434 shares of the specialty retailer’s stock worth $2,344,096,000 after purchasing an additional 40,190 shares during the period. Baird Financial Group Inc. boosted its position in shares of Ulta Beauty by 2.8% during the first quarter. Baird Financial Group Inc. now owns 8,299 shares of the specialty retailer’s stock valued at $3,305,000 after buying an additional 223 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of 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 valued at $444,000 after buying an additional 311 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Ulta Beauty by 59.1% in the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ULTA shares. Wells Fargo & Company upped their price objective on Ulta Beauty from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, December 1st. Argus upped their price target on shares of Ulta Beauty from $500.00 to $545.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Loop Capital lowered shares of Ulta Beauty from a “buy” rating to a “hold” rating and set a $530.00 price objective for the company. in a report on Wednesday, February 14th. Oppenheimer reaffirmed an “outperform” rating and set a $525.00 target price on shares of Ulta Beauty in a research report on Friday, December 1st. Finally, UBS Group boosted their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty presently has an average rating of “Moderate Buy” and a consensus price target of $546.90.

Check Out Our Latest Stock Report on ULTA

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $535.98 on Monday. The firm has a market capitalization of $26.03 billion, a P/E ratio of 21.74, a PEG ratio of 2.35 and a beta of 1.31. 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 50-day simple moving average of $518.69 and a two-hundred day simple moving average of $456.14.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last posted 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 firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Ulta Beauty had a net margin of 11.37% and a return on equity of 61.42%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.68 EPS. As a group, analysts forecast that Ulta Beauty, Inc. will post 25.46 earnings per share for the current year.

Ulta Beauty declared that its board has authorized a share repurchase program on Thursday, March 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.