Point72 Hong Kong Ltd Raises Stock Holdings in Ulta Beauty Inc (NASDAQ:ULTA)
Point72 Hong Kong Ltd grew its position in Ulta Beauty Inc (NASDAQ:ULTA) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 938 shares of the specialty retailer’s stock after acquiring an additional 218 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Ulta Beauty were worth $237,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC boosted its stake in Ulta Beauty by 4.4% during the 3rd quarter. Voya Investment Management LLC now owns 32,743 shares of the specialty retailer’s stock worth $8,207,000 after purchasing an additional 1,375 shares during the period. Redpoint Investment Management Pty Ltd boosted its stake in shares of Ulta Beauty by 4.9% during the third quarter. Redpoint Investment Management Pty Ltd now owns 3,648 shares of the specialty retailer’s stock worth $914,000 after buying an additional 169 shares during the period. State Street Corp grew its holdings in shares of Ulta Beauty by 2.9% during the third quarter. State Street Corp now owns 2,539,269 shares of the specialty retailer’s stock worth $636,468,000 after buying an additional 72,084 shares during the last quarter. Neo Ivy Capital Management grew its holdings in shares of Ulta Beauty by 157.8% during the third quarter. Neo Ivy Capital Management now owns 5,370 shares of the specialty retailer’s stock worth $1,277,000 after buying an additional 3,287 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in Ulta Beauty by 2.5% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 57,457 shares of the specialty retailer’s stock valued at $14,402,000 after acquiring an additional 1,384 shares during the period. 88.44% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Ulta Beauty in a research note on Monday, March 9th. Barclays lifted their target price on Ulta Beauty from $220.00 to $238.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Loop Capital dropped their target price on Ulta Beauty from to and set a “hold” rating on the stock in a report on Friday, March 13th. Wells Fargo & Co cut their price target on Ulta Beauty from $250.00 to $230.00 and set an “equal weight” rating for the company in a research note on Friday, March 13th. Finally, Citigroup raised Ulta Beauty from a “neutral” rating to a “buy” rating and set a $205.00 price target for the company in a report on Friday, March 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $264.21.
Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, March 12th. The specialty retailer reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Ulta Beauty had a net margin of 9.54% and a return on equity of 36.75%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the firm earned $3.61 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Ulta Beauty Inc will post 12.64 earnings per share for the current year.
Ulta Beauty announced that its board has authorized a share repurchase program on Thursday, March 12th that permits the company to repurchase $1.60 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Ulta Beauty Profile
Ulta Beauty, Inc operates as a beauty retailer in the United States. The company's stores offer cosmetics, fragrances, skincare and haircare products, bath and body products, and salon styling tools; salon services, including hair, skin, makeup, and brow services; and others, including nail products and accessories.
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