Canton Hathaway LLC Invests $411,000 in Ulta Beauty Inc. (NASDAQ:ULTA)

Canton Hathaway LLC bought 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 and Exchange Commission. The fund bought 1,120 shares of the specialty retailer's stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC boosted its holdings in shares of Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after buying an additional 34 shares during the period. American National Bank & Trust acquired a new position in shares of Ulta Beauty in the 1st quarter valued at about $29,000. Rakuten Securities Inc. boosted its holdings in shares of Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after buying an additional 40 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Ulta Beauty in the 1st quarter valued at about $37,000. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now directly owns 7,632 shares of the company's stock, valued at approximately $2,817,429.12. This represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $473.85 on Friday. The firm has a market cap of $21.30 billion, a PE ratio of 18.51, a P/E/G ratio of 2.80 and a beta of 1.09. The firm's 50 day moving average price is $417.25 and its two-hundred day moving average price is $398.50. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $491.98.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 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 company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the business posted $6.47 EPS. Ulta Beauty's quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ULTA. Oppenheimer boosted their target price on shares of Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. BMO Capital Markets reduced their target price on shares of Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group boosted their target price on shares of Ulta Beauty from $510.00 to $542.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Barclays boosted their target price on shares of Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty currently has an average rating of "Hold" and a consensus price target of $462.22.

Ulta Beauty Company 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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