480 Shares in Ulta Beauty Inc. $ULTA Bought by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC has acquired 480 shares of Ulta Beauty Inc. valued at approximately $225,000, indicating increased institutional interest in the company.
• Ulta Beauty reported a $5.78 EPS for the last quarter, exceeding analysts' expectations, and experienced a year-over-year revenue growth of 9.3%.
• Several analysts have raised their price targets for Ulta Beauty, with Goldman Sachs setting a new target of $584.00 and Piper Sandler at $590.00, reflecting a positive outlook from financial analysts.

Morningstar Investment Management LLC acquired a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 480 shares of the specialty retailer's stock, valued at approximately $225,000.

Other large investors have also recently bought and sold shares of the company. Hemington Wealth Management boosted its holdings in Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Ulta Beauty during the first quarter valued at about $31,000. Rakuten Securities Inc. boosted its holdings in Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. boosted its holdings in Ulta Beauty by 71.4% during the first 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 during the period. Finally, Ransom Advisory Ltd bought a new stake in Ulta Beauty during the first quarter valued at about $36,000. 90.39% of the stock is currently owned by institutional investors.

Insider Transactions at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares of the company's stock, valued at $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Ulta Beauty Stock Performance

Shares of ULTA opened at $541.01 on Wednesday. The company has a 50-day simple moving average of $529.39 and a 200-day simple moving average of $467.02. The firm has a market capitalization of $24.26 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.99 and a beta of 1.08. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23.

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

Analysts Set New Price Targets

A number of research firms have issued reports on ULTA. The Goldman Sachs Group upped their price target on shares of Ulta Beauty from $530.00 to $584.00 and gave the company a "buy" rating in a report on Friday, August 29th. Piper Sandler began coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $590.00 price target for the company. Wall Street Zen cut shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Friday, September 26th. UBS Group upped their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ulta Beauty in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $549.33.

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.

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