Bank of Nova Scotia boosted its stake in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 466.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,592 shares of the specialty retailer's stock after buying an additional 28,481 shares during the period. Bank of Nova Scotia owned 0.07% of Ulta Beauty worth $15,045,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in Ulta Beauty during the fourth quarter valued at about $239,432,000. Proficio Capital Partners LLC bought a new position in shares of Ulta Beauty during the 4th quarter valued at about $58,074,000. Victory Capital Management Inc. grew its stake in shares of Ulta Beauty by 364.6% in the 4th quarter. Victory Capital Management Inc. now owns 159,053 shares of the specialty retailer's stock worth $69,177,000 after purchasing an additional 124,822 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Ulta Beauty by 258.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 126,190 shares of the specialty retailer's stock worth $54,884,000 after purchasing an additional 90,972 shares in the last quarter. Finally, Edge Capital Group LLC acquired a new stake in Ulta Beauty during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 90.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ULTA. Wells Fargo & Company dropped their price target on Ulta Beauty from $360.00 to $310.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Piper Sandler reduced their target price on Ulta Beauty from $425.00 to $364.00 and set a "neutral" rating for the company in a report on Friday, March 14th. BMO Capital Markets decreased their price target on Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating for the company in a research report on Friday, March 14th. StockNews.com upgraded Ulta Beauty from a "sell" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, B. Riley decreased their target price on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $427.61.
View Our Latest Research Report on ULTA
Insider Transactions at Ulta Beauty
In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the transaction, the insider now directly owns 7,632 shares of the company's stock, valued at $2,817,429.12. This trade represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by insiders.
Ulta Beauty Price Performance
Shares of Ulta Beauty stock traded down $8.06 during midday trading on Tuesday, hitting $358.19. The company had a trading volume of 473,670 shares, compared to its average volume of 1,057,238. Ulta Beauty, Inc. has a 1-year low of $309.01 and a 1-year high of $460.00. The business's 50 day simple moving average is $359.24 and its two-hundred day simple moving average is $383.03. The stock has a market cap of $16.23 billion, a PE ratio of 14.33, a P/E/G ratio of 0.89 and a beta of 1.16.
Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the business posted $8.08 EPS. The business's quarterly revenue was down 1.9% on a year-over-year basis. On average, sell-side analysts expect that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.
About Ulta Beauty
(
Free Report)
Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.
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