OLD National Bancorp IN Has $1.28 Million Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Posted by Defense World Staff on Apr 24th, 2023

OLD National Bancorp IN lessened its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) by 46.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,726 shares of the specialty retailer’s stock after selling 2,410 shares during the period. OLD National Bancorp IN’s holdings in Ulta Beauty were worth $1,278,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its position in Ulta Beauty by 13.1% in the fourth quarter. Larson Financial Group LLC now owns 517 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 60 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Ulta Beauty in the fourth quarter worth about $11,220,000. Mach 1 Financial Group LLC raised its position in Ulta Beauty by 490.7% in the fourth quarter. Mach 1 Financial Group LLC now owns 2,227 shares of the specialty retailer’s stock worth $1,045,000 after purchasing an additional 1,850 shares in the last quarter. Institute for Wealth Management LLC. raised its position in Ulta Beauty by 1.8% in the fourth quarter. Institute for Wealth Management LLC. now owns 1,103 shares of the specialty retailer’s stock worth $517,000 after purchasing an additional 20 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in Ulta Beauty by 4.5% in the fourth quarter. Raymond James Trust N.A. now owns 1,547 shares of the specialty retailer’s stock worth $725,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

Ulta Beauty Stock Performance

ULTA opened at $541.37 on Monday. The firm’s fifty day moving average is $526.19 and its two-hundred day moving average is $480.27. The firm has a market cap of $27.17 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.75 and a beta of 1.31. Ulta Beauty, Inc. has a twelve month low of $330.80 and a twelve month high of $553.06.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last issued its quarterly earnings data on Thursday, March 9th. The specialty retailer reported $6.68 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $1.15. Ulta Beauty had a net margin of 12.17% and a return on equity of 67.19%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business posted $5.41 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts forecast that Ulta Beauty, Inc. will post 25.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 400 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the sale, the director now directly owns 1,531 shares in the company, valued at $798,615.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mike C. Smith sold 400 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $521.63, for a total transaction of $208,652.00. Following the sale, the director now directly owns 1,531 shares in the company, valued at $798,615.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lorna Nagler sold 1,200 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $541.12, for a total transaction of $649,344.00. Following the sale, the director now owns 6,632 shares in the company, valued at $3,588,707.84. The disclosure for this sale can be found here. Insiders have sold a total of 7,355 shares of company stock worth $3,821,507 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ULTA shares. Barclays upped their price objective on shares of Ulta Beauty from $548.00 to $636.00 and gave the stock an “overweight” rating in a research note on Friday, March 10th. Citigroup upped their price objective on shares of Ulta Beauty from $500.00 to $530.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. Raymond James increased their price target on shares of Ulta Beauty from $600.00 to $615.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 6th. Evercore ISI increased their price target on shares of Ulta Beauty from $600.00 to $650.00 in a research note on Friday, March 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $575.00 price target on shares of Ulta Beauty in a research note on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ulta Beauty currently has an average rating of “Moderate Buy” and an average price target of $561.63.

Ulta Beauty 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.