AustralianSuper Pty Ltd Invests $1.01 Million in Ulta Beauty Inc. (NASDAQ:ULTA)

AustralianSuper Pty Ltd bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,753 shares of the specialty retailer's stock, valued at approximately $1,009,000.

Several other hedge funds have also bought and sold shares of ULTA. Prestige Wealth Management Group LLC increased its position in shares of Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Ulta Beauty in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new position in shares of Ulta Beauty during the first quarter valued at about $31,000. Rakuten Securities Inc. increased its stake in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after purchasing an additional 59 shares during the period. Finally, North Star Investment Management Corp. increased its stake in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 40 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded up $3.23 during trading on Friday, hitting $493.30. The company had a trading volume of 419,565 shares, compared to its average volume of 1,037,816. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.99 and a beta of 1.08. The company has a fifty day simple moving average of $455.14 and a two-hundred day simple moving average of $405.08. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $498.52.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the firm earned $6.47 earnings per share. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

ULTA has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Ulta Beauty from $460.00 to $550.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Wall Street Zen raised Ulta Beauty from a "hold" rating to a "buy" rating in a report on Saturday, June 28th. Piper Sandler restated a "neutral" rating and set a $437.00 price objective (up from $386.00) on shares of Ulta Beauty in a research note on Friday, May 30th. Wells Fargo & Company upped their target price on shares of Ulta Beauty from $315.00 to $350.00 and gave the stock an "underweight" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on Ulta Beauty from $477.00 to $525.00 and gave the company an "overweight" rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $465.04.

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.