Ulta Magnificence, Inc. (NASDAQ:ULTA) Shares Offered by EP Wealth Advisors LLC

Daily SF NewsMarch 17, 2024

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EP Wealth Advisors LLC cut its stake in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 98.1% in the third quarter, HoldingsChannel reports. The fund owned 995 shares of the specialty retailer’s stock after selling 51,000 shares during the period. EP Wealth Advisors LLC’s holdings in Ulta Beauty were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT lifted its holdings in Ulta Beauty by 1.6% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 1,260 shares of the specialty retailer’s stock valued at $591,000 after acquiring an additional 20 shares during the period. Pathstone Family Office LLC raised its stake in shares of Ulta Beauty by 0.8% during the 4th quarter. Pathstone Family Office LLC now owns 2,852 shares of the specialty retailer’s stock worth $1,338,000 after buying an additional 22 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of Ulta Beauty by 4.9% during the 1st quarter. Wetherby Asset Management Inc. now owns 491 shares of the specialty retailer’s stock worth $268,000 after buying an additional 23 shares during the period. CENTRAL TRUST Co raised its stake in shares of Ulta Beauty by 3.0% during the 3rd quarter. CENTRAL TRUST Co now owns 835 shares of the specialty retailer’s stock worth $335,000 after buying an additional 24 shares during the period. Finally, Huntington National Bank raised its stake in shares of Ulta Beauty by 1.4% during the 3rd quarter. Huntington National Bank now owns 1,820 shares of the specialty retailer’s stock worth $727,000 after buying an additional 26 shares during the period. 92.30% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 5.2 %

Shares of Ulta Beauty stock opened at $535.98 on Friday. Ulta Beauty, Inc. has a 52 week low of $368.02 and a 52 week high of $574.76. The business’s fifty day simple moving average is $518.69 and its 200-day simple moving average is $455.90. The firm has a market cap of $26.03 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. 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 analyst estimates of $3.53 billion. During the same quarter in the prior year, the company posted $6.68 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Ulta Beauty, Inc. will post 25.46 earnings per share for the current year.

Ulta Beauty declared that its board has initiated a stock buyback program on Thursday, March 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ULTA. Oppenheimer reaffirmed an “outperform” rating and set a $525.00 target price on shares of Ulta Beauty in a research note on Friday, December 1st. Evercore ISI dropped their price target on Ulta Beauty from $656.00 to $635.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on Ulta Beauty from $574.00 to $627.00 in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Ulta Beauty from $535.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, Argus boosted their price target on Ulta Beauty from $500.00 to $545.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $546.90.

Check Out 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.