CCM Investment Group LLC Purchases Shares of 4,310 Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• CCM Investment Group LLC has acquired 4,310 shares of Ulta Beauty Inc. worth around $1,549,000, marking a notable institutional investment in the specialty retailer.
• Recent analyst ratings show a mix of opinions, with one downgrade to "hold" and target prices varying between $469.09 and $600, indicating differing expectations among investors.
• Ulta Beauty reported a quarterly EPS of $6.70, exceeding estimates and showing a 4.5% revenue increase compared to the same quarter last year, underscoring the company's strong financial performance.

CCM Investment Group LLC purchased a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,310 shares of the specialty retailer's stock, valued at approximately $1,549,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. American National Bank & Trust bought a new stake in shares of Ulta Beauty during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Ulta Beauty during the first quarter worth about $31,000. Rakuten Securities Inc. increased its position in shares of Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Ulta Beauty during the first quarter worth about $37,000. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

ULTA has been the subject of several recent research reports. Loop Capital reissued a "hold" rating and set a $510.00 target price on shares of Ulta Beauty in a research report on Friday, July 25th. Telsey Advisory Group reissued an "outperform" rating and set a $520.00 target price on shares of Ulta Beauty in a research report on Friday, July 11th. Oppenheimer boosted their target price on shares of Ulta Beauty from $465.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Canaccord Genuity Group upped their price objective on shares of Ulta Beauty from $542.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $469.09.

Ulta Beauty Trading Down 1.6%

Shares of ULTA stock opened at $498.21 on Friday. The stock has a market capitalization of $22.39 billion, a P/E ratio of 19.46, a PEG ratio of 3.01 and a beta of 1.12. The firm's 50 day moving average is $483.37 and its 200 day moving average is $414.86. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $523.68.

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, beating analysts' consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. Ulta Beauty's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.47 EPS. On average, equities analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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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