Algert Global LLC Acquires New Shares in Ulta Beauty Inc. $ULTA

Key Points

• Algert Global LLC has acquired a new stake in Ulta Beauty Inc., purchasing 1,320 shares valued at approximately $484,000 in the first quarter.
• Ulta Beauty reported $6.70 EPS in its latest quarterly earnings, exceeding analysts’ expectations of $5.73, with revenue of $2.85 billion.
• Wall Street analysts have varying ratings for Ulta Beauty, with 13 analysts recommending a Buy rating and an average price target of $487.96.

Algert Global LLC purchased a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,320 shares of the specialty retailer's stock, valued at approximately $484,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ulta Beauty by 17.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock valued at $2,190,000 after acquiring an additional 924 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Ulta Beauty by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock valued at $435,000 after acquiring an additional 152 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Ulta Beauty during the first quarter valued at $201,000. Farther Finance Advisors LLC lifted its holdings in shares of Ulta Beauty by 128.9% during the first quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock valued at $275,000 after acquiring an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Ulta Beauty by 6.0% during the first quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer's stock valued at $444,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ULTA. UBS Group lifted their price objective on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company lifted their price target on Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a report on Friday. Canaccord Genuity Group set a $650.00 price target on Ulta Beauty in a report on Friday. Evercore ISI lifted their price target on Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a report on Friday. Finally, Oppenheimer lifted their price target on Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $534.75.

Ulta Beauty Trading Down 6.7%

ULTA stock traded down $35.70 during trading hours on Friday, hitting $494.94. 2,094,512 shares of the stock were exchanged, compared to its average volume of 880,080. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $538.59. The firm has a market capitalization of $22.25 billion, a P/E ratio of 19.33, a P/E/G ratio of 3.20 and a beta of 1.12. The company has a 50-day simple moving average of $498.62 and a two-hundred day simple moving average of $425.95.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, topping analysts' consensus estimates of $5.03 by $0.75. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%.The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the business earned $5.30 earnings per share. Ulta Beauty's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

About Ulta Beauty

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.