Angeles Wealth Management LLC Invests $377,000 in Ulta Beauty Inc. $ULTA

Key Points

• Angeles Wealth Management LLC has invested $377,000 in Ulta Beauty Inc., acquiring 805 shares in the 2nd quarter, highlighting growing institutional interest in the company.
• Ulta Beauty's recent earnings report showed an EPS of $5.78, surpassing estimates and marking a 9.3% increase in quarterly revenue year-over-year.
• Analyst ratings are largely positive, with a consensus target price of $550.38, reflecting strong potential for stock growth as several brokerages issued upgraded target prices.

Angeles Wealth Management LLC purchased a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 805 shares of the specialty retailer's stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Ulta Beauty during the 1st quarter worth $31,000. Hemington Wealth Management raised its stake in shares of Ulta Beauty by 142.9% during the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock worth $31,000 after buying an additional 40 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Ulta Beauty during the 1st quarter worth $36,000. Costello Asset Management INC acquired a new position in Ulta Beauty in the 1st quarter valued at about $37,000. Finally, Larson Financial Group LLC raised its stake in Ulta Beauty by 178.4% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $533.51 on Friday. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $572.23. The company has a 50-day moving average of $531.17 and a 200-day moving average of $469.79. The company has a market cap of $23.92 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.96 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted 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. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $5.30 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the sale, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ULTA. Telsey Advisory Group reissued an "outperform" rating and issued a $610.00 target price on shares of Ulta Beauty in a research note on Friday. Piper Sandler began coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They issued an "overweight" rating and a $590.00 target price for the company. Cowen reissued a "hold" rating on shares of Ulta Beauty in a research note on Friday, August 29th. UBS Group boosted their target price on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Evercore ISI boosted their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $550.38.

Ulta Beauty 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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