Ulta Beauty Inc. and The Estée Lauder Companies Inc. both experienced changes in their institutional investor stakes. Prudential PLC, a major institutional investor, announced a 41.0% reduction in its stake in Ulta Beauty. Prudential PLC sold 6,567 shares, leaving it with 9,460 shares worth $4,635,000. This move comes amidst ongoing volatility in the stock market, which has affected the beauty industry as a whole [ca761f14].
On the other hand, Seven Eight Capital LP increased its position in The Estée Lauder Companies Inc. by 214.1% in the fourth quarter, acquiring an additional 17,872 shares. The firm now owns 26,221 shares of the company's stock, worth $3,835,000. Other institutional investors also made changes to their positions in the company [a6589c0d].
Quintet Private Bank Europe S.A. has decreased its stake in The Estée Lauder Companies Inc. (NYSE:EL) by 3.9% in the fourth quarter, according to the company's Form 13F filing with the Securities and Exchange Commission. The bank now owns 227,924 shares of Estée Lauder Companies stock, representing 2.1% of its holdings and making it the bank's 16th biggest position. The stake was worth $33,334,000 at the time of the filing. Other hedge funds and institutional investors have also made changes to their positions in EL [7a339c60].
Ulta Beauty's stock opened at $382.61 on Friday, with a market cap of $18.26 billion. The company reported earnings per share (EPS) of $6.47 for the quarter, surpassing the consensus estimate of $6.19 by $0.28. Despite this positive performance, Ulta Beauty's stock has experienced a decline in value in recent months, with a 12-month low of $368.02 and a 12-month high of $574.76.
The Estée Lauder Companies Inc.'s stock is currently trading at $120.47, with a market cap of $43.20 billion. The company reported earnings per share of $0.97 for the last quarter, beating analysts' estimates of $0.48. The company's revenue for the quarter was $3.94 billion, up 5.0% year-over-year. Estée Lauder Companies recently declared a quarterly dividend of $0.66 per share, payable on June 17th to shareholders of record on May 31st. The company has a consensus rating of 'Hold' and an average target price of $160.92. Insiders have sold 42,255 shares of company stock valued at $5,453,232 in the last quarter [a6589c0d].
In addition to Prudential PLC, Seven Eight Capital LP, and Quintet Private Bank Europe S.A., other institutional investors and hedge funds have also been buying and selling shares of Ulta Beauty and The Estée Lauder Companies. Ulta Beauty's board has authorized a share buyback plan that allows for the repurchase of $2.00 billion in outstanding shares. Analysts have given Ulta Beauty an average rating of 'Moderate Buy' and an average price target of $507.30 [ca761f14].
Par Capital Management Inc. has sold 600,000 shares of Uber Technologies, Inc. (NYSE:UBER), reducing its stake in the company by 10%. The institutional investor now owns 5,400,000 shares of Uber Technologies, making it the 4th largest position in its investment portfolio. The shares were sold during the fourth quarter and were worth approximately $332,478,000. Other hedge funds have also made changes to their positions in Uber Technologies. The stock is currently trading at $70.08 on the New York Stock Exchange.