1,810 Shares in Ulta Beauty Inc. $ULTA Purchased by Nippon Life Global Investors Americas Inc.

Key Points

• Nippon Life Global Investors Americas Inc. purchased 1,810 shares of Ulta Beauty Inc. valued around $663,000 during the first quarter, adding to the growing interest from institutional investors in the company.
• Wall Street analysts have increased their price targets for Ulta Beauty, with estimates reaching up to $640.00, indicating a positive outlook for the company's stock.
• Ulta Beauty reported strong quarterly earnings, with earnings per share of $5.78, surpassing analyst expectations and showing a revenue increase of 9.3% compared to the same period last year.

Nippon Life Global Investors Americas Inc. purchased a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,810 shares of the specialty retailer's stock, valued at approximately $663,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank & Trust bought a new position in shares of Ulta Beauty in the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new position in shares of Ulta Beauty in the 1st quarter worth $31,000. Rakuten Securities Inc. lifted its stake in Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares in the last quarter. North Star Investment Management Corp. lifted its stake in Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 40 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Ulta Beauty during the 1st quarter valued at $37,000. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America raised their price objective on Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Wells Fargo & Company raised their price objective on Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a research note on Friday, August 29th. Robert W. Baird raised their price objective on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Telsey Advisory Group raised their price objective on Ulta Beauty from $590.00 to $610.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Barclays raised their price objective on Ulta Beauty from $589.00 to $617.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $543.13.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock traded down $14.64 during trading hours on Friday, hitting $514.86. 880,236 shares of the company's stock traded hands, compared to its average volume of 902,338. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $539.00. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 2.83 and a beta of 1.06. The company has a fifty day simple moving average of $504.79 and a 200-day simple moving average of $433.02.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm posted $5.30 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Ulta Beauty Company Profile

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.