Public Sector Pension Investment Board Reduces Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

On December 8th, 2024, it was reported that the Public Sector Pension Investment Board significantly reduced its investment in Ulta Beauty, Inc. (NASDAQ:ULTA) by an impressive 97.6% during the third quarter of the year, based on its recent filing with the Securities and Exchange Commission (SEC). The board now holds only 2,086 shares of the retailer's stock after divesting from 84,560 shares within the quarter. According to the latest SEC document, these reduced holdings are valued at approximately $812,000.

In addition to the Public Sector Pension Investment Board's changes, other institutional investors have also adjusted their positions in Ulta Beauty. Notably, International Assets Investment Management LLC made a significant increase, raising its stake in Ulta Beauty by 180,713.0% during the same period. This brought their total share ownership to 1,238,569, worth around $481,952,000, following the purchase of an additional 1,237,884 shares.

Another significant move was made by the Ontario Teachers Pension Plan Board, which acquired a new stake in Ulta Beauty estimated at about $359,480,000 during the third quarter. Additionally, TD Asset Management Inc. boosted its holdings by 14.1%, now owning 620,793 shares valued at $239,545,000, through the acquisition of 76,721 more shares.

Furthermore, Champlain Investment Partners LLC increased its position by 5.4%, now owning 610,400 shares worth $237,519,000, after acquiring 31,540 shares. Lastly, Alecta Tjanstepension Omsesidigt raised its holdings by 14.4% to 516,405 shares valued at $200,944,000 after purchasing 65,000 shares. Collectively, institutional investors now own approximately 90.39% of Ulta Beauty's stock.

Stock Ratings and Research Reports

In recent stock assessments, several research firms have updated their views on Ulta Beauty. For example, Evercore ISI reduced the stock's price target from $500.00 to $430.00 while maintaining an “outperform” rating. Conversely, UBS Group raised its target price from $470.00 to $490.00 and categorized the stock as a “buy.” Similarly, Oppenheimer adjusted its price target upward from $435.00 to $505.00, keeping an “outperform” rating.

Piper Sandler set its price objective at $360.00, rating the stock as “neutral,” while Wells Fargo & Company increased its target from $300.00 to $350.00 with an “underweight” rating. Overall, research data indicates that two analysts recommend selling the stock, twelve suggest holding, and eleven recommend buying. Based on MarketBeat.com, Ulta Beauty holds a consensus rating of “Hold” with an average target price of $438.00.

Ulta Beauty Stock Performance

On the day of reporting, Ulta stock opened at $428.17. It has a market capitalization of $20.18 billion, a price-to-earnings (PE) ratio of 17.13, and a price-to-earnings-growth (PEG) ratio of 2.30, with a beta of 1.32. The stock has fluctuated between a 52-week low of $318.17 and a high of $574.76. The company’s 50-day moving average stands at $374.15, while its 200-day moving average is $376.64.

Ulta Beauty recently reported quarterly earnings on December 5th, showcasing earnings per share (EPS) of $5.14, which exceeded analyst expectations of $4.45 by $0.69. The company achieved a net margin of 10.68% and a return on equity of 54.02%, with revenues of $2.53 billion surpassing estimates of $2.50 billion. Year-over-year, revenue increased by 1.7%. Analysts predict that Ulta Beauty, Inc. will report earnings of $23.07 per share for the current fiscal year.

About Ulta Beauty

Ulta Beauty, Inc. operates as a specialized beauty retailer across the United States, providing a mix of branded and private label products, including cosmetics, fragrances, haircare, skincare, bath and body products, salon tools, and professional hair products. Customers can access these products at Ulta Beauty stores, through various shop-in-shops, and via the official Ulta website.

pension, investment, shares