Ulta Beauty, Inc. (NASDAQ:ULTA) Stock Position Increased by State of Alaska Department of Revenue

Posted by Defense World Staff on Mar 23rd, 2023

State of Alaska Department of Revenue boosted its position in Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,784 shares of the specialty retailer’s stock after purchasing an additional 496 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ulta Beauty were worth $5,056,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ULTA. CI Investments Inc. lifted its position in Ulta Beauty by 1,016.7% in the 3rd quarter. CI Investments Inc. now owns 67 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Ulta Beauty by 59.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock worth $28,000 after buying an additional 26 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Ulta Beauty during the 3rd quarter worth about $30,000. AllSquare Wealth Management LLC raised its position in shares of Ulta Beauty by 188.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 75 shares of the specialty retailer’s stock worth $30,000 after buying an additional 49 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Ulta Beauty by 76.1% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 81 shares of the specialty retailer’s stock worth $32,000 after buying an additional 35 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Ulta Beauty Stock Performance

ULTA opened at $510.00 on Thursday. The firm’s 50-day simple moving average is $515.10 and its 200-day simple moving average is $461.95. Ulta Beauty, Inc. has a twelve month low of $330.80 and a twelve month high of $537.52. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.65 and a beta of 1.30.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last posted its earnings results on Thursday, March 9th. The specialty retailer reported $6.68 earnings per share for the quarter, topping the consensus estimate of $5.53 by $1.15. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.99 billion. Ulta Beauty had a net margin of 12.17% and a return on equity of 67.19%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.41 EPS. As a group, sell-side analysts anticipate that Ulta Beauty, Inc. will post 25.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 400 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the transaction, the director now owns 1,531 shares in the company, valued at approximately $798,615.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Mike C. Smith sold 400 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the transaction, the director now owns 1,531 shares in the company, valued at approximately $798,615.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi J. Caro sold 4,500 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $506.65, for a total transaction of $2,279,925.00. Following the transaction, the insider now owns 5,231 shares in the company, valued at approximately $2,650,286.15. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on ULTA shares. JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty to $535.00 in a research report on Monday, November 28th. Evercore ISI boosted their price objective on shares of Ulta Beauty from $600.00 to $650.00 in a research report on Friday, March 10th. Wells Fargo & Company downgraded shares of Ulta Beauty from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $450.00 to $400.00 in a research report on Friday, January 6th. The Goldman Sachs Group cut shares of Ulta Beauty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $511.00 to $508.00 in a research note on Monday, December 12th. Finally, DA Davidson lifted their target price on shares of Ulta Beauty from $545.00 to $605.00 in a research note on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Moderate Buy” and an average target price of $555.09.

Ulta Beauty Company Profile

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.