As of the most recent SEC filing on June 1, 2023, Bank of America Corp DE decreased its holdings in shares of Ulta Beauty, Inc. by 13.1%. The specialty retailer’s stock saw a sale of 67,165 shares during the quarter, bringing Bank of America Corp DE’s ownership down to 447,410 shares. However, the firm still held a significant amount of Ulta Beauty’s stock at a value of $209,867,000.
Ulta Beauty (NASDAQ:ULTA) has been making headlines lately with the company’s impressive earnings results for Q4. As reported on May 25th, Ulta Beauty surpassed analyst expectations by reporting an EPS of $6.88 for the quarter. This exceeded the consensus estimate of $6.82 by $0.06 and represented an increase from the previous year’s earnings per share.
Along with beating earnings estimates, Ulta Beauty also posted impressive revenue numbers for Q4 at $2.63 billion compared to analyst projections of $2.62 billion. This marks a notable increase in revenue from the same period last year as the business was up 12.3% on a year-over-year basis.
Ulta Beauty is known for its retail stores that offer salon services and e-commerce options among other products such as makeup, skin care products, tools and brushes, fragrance and bath and body items. Founded in January 1990 with headquarters located in Bolingbrook, IL., this specialty retailer has continued to innovate within the industry through their diverse offerings and online presence.
With all these developments taken into account analysts expect that Ulta Beauty will post an EPS of 25.09 for this fiscal year – further solidifying it as one of the most influential retailers in today’s market.
In conclusion, this recent news within Ulta Beauty Inc brings both opportunities and challenges to both investors and professionals within beauty care retail, leaving us to expect more breakthroughs and advancements from the company in the near future.
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Investors Buy and Sell Shares in Ulta Beauty Inc.
Ulta Beauty, Inc. is a company that has been in business since January 9, 1990, specializing in the retail of beauty products. Recently, a number of large investors have been involved in buying and selling ULTA shares. The Institute for Wealth Management LLC has lifted its holdings in shares of Ulta Beauty by 1.8% during the fourth quarter. Veriti Management LLC has also lifted its stake in Ulta Beauty by 4.1% in the same period.
Central Trust Co and Moors & Cabot Inc. have also increased their stakes in Ulta with very marginal percentages from previous quarters; CENTRAL TRUST Co increased by 3%, while Moors & Cabot Inc. increased by only 2.4%. Vantage Financial Partners Ltd., on the other hand, bought more stocks than everyone else who increased their stakes at Ulta – it now owns 1,000 shares worth $469,000.
It should be noted that institutional investors and hedge funds currently own around 90.47% of the stock.
Ulta Beauty opened trading on Thursday at $409.83 per share with a market capitalization of $20.41 billion, a PE ratio of 16.66 and a beta of 1.31.
The company’s low price for the past year was set at $360.58 while the high was $556.60 within one year.
Ulta celebrates its diversity in beauty retailing; with one reportable segment which includes retail stores for makeup, skincare tools and brushes fragrance as well as bath and body products alongside salon services and e-commerce.
However not everything is going perfectly well for Ulta, insiders like Anita Jane Ryan have pulled out considerable sums from their stocks; having sold over $680k worth or more than double that amount when you combine transactions that took place specifically between March-April alone this year involving other insiders too.
Research analysis suggests a moderate buy consensus rating with an average target price of $547.21 even though there has been occasional dip in stock prices, mixed reviews from companies like BMO Capital Markets and Stifel Nicolaus who have lowered their price targets on ULTA shares to $485.00 and $475.00 respectively due to the various transactions by the insiders as well as market changes while others like Piper Sandler boosted their price target from $615.00 to $640.00, and Deutsche Bank Aktiengesellschaft maintains a reduced price rate at$600.00.
Ulta Beauty has made significant strides in enhancing the art of beauty retailing by providing its customers with quality products that have withstood the test of time amidst volatile market conditions, making it one of the most lucrative investments for investors alike.
