Wedmont Private Capital increased its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 993 shares of the specialty retailer’s stock after buying an additional 28 shares during the quarter. Wedmont Private Capital’s holdings in Ulta Beauty were worth $519,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ULTA. Morgan Stanley grew its holdings in Ulta Beauty by 56.7% in 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. Norges Bank acquired a new stake in Ulta Beauty in the fourth quarter worth approximately $263,192,000. International Assets Investment Management LLC lifted its position in Ulta Beauty by 45,740.3% in the fourth quarter. International Assets Investment Management LLC now owns 291,544 shares of the specialty retailer’s stock worth $142,854,000 after purchasing an additional 290,908 shares during the period. TD Asset Management Inc lifted its position in Ulta Beauty by 177.8% in the fourth quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock worth $199,596,000 after purchasing an additional 260,740 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in Ulta Beauty by 210.4% in the first quarter. Los Angeles Capital Management LLC now owns 271,550 shares of the specialty retailer’s stock worth $141,988,000 after purchasing an additional 184,060 shares during the period. 90.39% of the stock is owned by institutional investors.
Ulta Beauty Trading Up 1.4 %
NASDAQ ULTA opened at $383.85 on Friday. Ulta Beauty, Inc. has a 1-year low of $368.02 and a 1-year high of $574.76. The firm’s fifty day simple moving average is $396.08 and its 200-day simple moving average is $466.55. The company has a market capitalization of $18.32 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36.
Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its earnings results on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.19 by $0.28. Ulta Beauty had a return on equity of 58.06% and a net margin of 11.13%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the firm posted $6.88 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts predict that Ulta Beauty, Inc. will post 25.76 EPS for the current year.
Ulta Beauty declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
ULTA has been the subject of a number of research analyst reports. BMO Capital Markets cut their target price on Ulta Beauty from $540.00 to $500.00 and set a “market perform” rating for the company in a research report on Friday, May 31st. Loop Capital upgraded Ulta Beauty from a “hold” rating to a “buy” rating and set a $540.00 target price for the company in a research report on Monday, April 8th. Piper Sandler cut their target price on Ulta Beauty from $505.00 to $498.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Robert W. Baird cut their target price on Ulta Beauty from $625.00 to $525.00 and set an “outperform” rating for the company in a research report on Wednesday, May 29th. Finally, Citigroup cut their price objective on Ulta Beauty from $485.00 to $400.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ulta Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $507.30.
Check Out Our Latest Stock Analysis on ULTA
About Ulta Beauty
Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.
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