Retirement Systems of Alabama Sells 1,371 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama trimmed its stake in Ulta Beauty, Inc. (NASDAQ:ULTA – Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,039 shares of the specialty retailer’s stock after selling 1,371 shares during the period. Retirement Systems of Alabama’s holdings in Ulta Beauty were worth $8,206,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ULTA. Grey Fox Wealth Advisors LLC bought a new position in Ulta Beauty during the fourth quarter valued at approximately $26,000. Ahrens Investment Partners LLC bought a new position in Ulta Beauty during the first quarter valued at approximately $27,000. Parkside Financial Bank & Trust grew its position in Ulta Beauty by 59.1% during the first quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 26 shares during the last quarter. RFP Financial Group LLC bought a new position in Ulta Beauty during the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. grew its position in Ulta Beauty by 51.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 20 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ULTA has been the topic of a number of recent research reports. Canaccord Genuity Group began coverage on shares of Ulta Beauty in a research report on Tuesday, March 28th. They set a “buy” rating and a $622.00 price target on the stock. UBS Group increased their price objective on Ulta Beauty from $590.00 to $640.00 in a research note on Thursday, May 11th. Citigroup dropped their price objective on Ulta Beauty from $510.00 to $460.00 in a research note on Friday, May 26th. Raymond James dropped their price objective on Ulta Beauty from $615.00 to $600.00 in a research note on Friday, May 26th. Finally, Loop Capital raised Ulta Beauty from a “hold” rating to a “buy” rating and increased their price objective for the company from $490.00 to $520.00 in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $548.46.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $460.11 on Monday. Ulta Beauty, Inc. has a 1-year low of $360.58 and a 1-year high of $556.60. The business has a fifty day moving average price of $458.65 and a 200-day moving average price of $498.26. The company has a market capitalization of $22.91 billion, a PE ratio of 18.70, a PEG ratio of 1.49 and a beta of 1.35.

Ulta Beauty (NASDAQ:ULTA – Get Free Report) last issued its quarterly earnings results on Thursday, May 25th. The specialty retailer reported $6.88 earnings per share for the quarter, beating the consensus estimate of $6.82 by $0.06. Ulta Beauty had a return on equity of 65.62% and a net margin of 11.98%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company earned $6.30 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Ulta Beauty, Inc. will post 25.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Catherine Ann Halligan sold 400 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $450.00, for a total value of $180,000.00. Following the transaction, the director now directly owns 2,165 shares of the company’s stock, valued at approximately $974,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ulta Beauty news, Director George R. Mrkonic, Jr. sold 393 shares of Ulta Beauty stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $421.30, for a total value of $165,570.90. Following the sale, the director now owns 2,397 shares of the company’s stock, valued at approximately $1,009,856.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Catherine Ann Halligan sold 400 shares of Ulta Beauty stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $450.00, for a total value of $180,000.00. Following the completion of the sale, the director now directly owns 2,165 shares in the company, valued at approximately $974,250. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

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.