Balboa Wealth Partners Makes New $272,000 Investment in Ulta Beauty Inc. $ULTA

Key Points

• Balboa Wealth Partners has made a new investment in Ulta Beauty Inc., purchasing 581 shares valued at approximately $272,000 during the 2nd quarter.
• Ulta Beauty reported an EPS of $5.78 for its last quarter, exceeding analysts' expectations and showing a 9.3% increase in revenue year-over-year.
• Multiple analysts have recently raised their target prices for Ulta Beauty, with Morgan Stanley setting a new price target of $600 and assigning an "overweight" rating.

Balboa Wealth Partners bought a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 581 shares of the specialty retailer's stock, valued at approximately $272,000.

Several other institutional investors also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its position in shares of Ulta Beauty by 57.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,227 shares of the specialty retailer's stock worth $624,000 after purchasing an additional 446 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Ulta Beauty in the 2nd quarter worth about $38,595,000. Citizens Business Bank boosted its position in shares of Ulta Beauty by 4.3% in the 2nd quarter. Citizens Business Bank now owns 7,012 shares of the specialty retailer's stock worth $3,280,000 after buying an additional 286 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its position in shares of Ulta Beauty by 0.3% in the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 14,482 shares of the specialty retailer's stock worth $6,759,000 after buying an additional 45 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Ulta Beauty in the 2nd quarter worth about $264,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $525.92 on Wednesday. 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 $531.87 and a 200-day moving average of $472.64. The company has a market cap of $23.58 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.88 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on ULTA. Cowen reiterated a "hold" rating on shares of Ulta Beauty in a research report on Friday, August 29th. Morgan Stanley boosted their target price on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Citigroup boosted their target price on shares of Ulta Beauty from $450.00 to $550.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Bank of America boosted their target price on shares of Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ulta Beauty from $525.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Ulta Beauty presently has a consensus rating of "Moderate Buy" and a consensus target price of $550.38.

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.

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