Bayforest Capital Ltd acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,788 shares of the specialty retailer's stock, valued at approximately $655,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. American National Bank & Trust purchased a new stake in shares of Ulta Beauty in the first quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in shares of Ulta Beauty in the first quarter valued at $31,000. Rakuten Securities Inc. grew its position in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after purchasing an additional 59 shares during the period. North Star Investment Management Corp. grew its position in shares of Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 40 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of Ulta Beauty in the first quarter valued at $37,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Ulta Beauty Stock Up 1.2%
Shares of ULTA stock traded up $6.42 during mid-day trading on Thursday, reaching $521.89. The company's stock had a trading volume of 462,314 shares, compared to its average volume of 893,336. The company's 50 day simple moving average is $508.33 and its 200-day simple moving average is $436.33. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $539.00. The firm has a market capitalization of $23.40 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.84 and a beta of 1.06.
Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, topping 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 firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the prior year, the company earned $5.30 EPS. The firm's revenue was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction on 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 sale, the director directly owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Piper Sandler assumed coverage on Ulta Beauty in a research report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 price objective for the company. 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 report on Friday, August 29th. 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 report on Friday, August 22nd. Wells Fargo & Company boosted their target price on shares of Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a report on Friday, August 29th. Finally, Raymond James Financial restated an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $543.13.
Check Out Our Latest Stock Analysis on ULTA
About Ulta Beauty
(
Free Report)
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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