Chicago Partners Investment Group LLC Buys New Shares in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Chicago Partners Investment Group LLC acquired 781 shares of Ulta Beauty, valued at approximately $307,000, as part of its new investment during the first quarter.
• Ulta Beauty reported a quarterly earnings per share of $6.70, exceeding analysts' expectations and showing a 4.5% increase in revenue year-over-year.
• Several analysts have issued upgrades on Ulta Beauty, with price targets now ranging from $437 to $600, while the average rating remains a "Hold."

Chicago Partners Investment Group LLC bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 781 shares of the specialty retailer's stock, valued at approximately $307,000.

A number of other institutional investors have also added to or reduced their stakes in ULTA. Cerity Partners LLC increased its stake in Ulta Beauty by 3.8% in the fourth quarter. Cerity Partners LLC now owns 7,118 shares of the specialty retailer's stock valued at $2,871,000 after acquiring an additional 262 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Ulta Beauty during the fourth quarter valued at about $28,146,000. Sterling Capital Management LLC grew its stake in shares of Ulta Beauty by 4.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,043 shares of the specialty retailer's stock valued at $454,000 after buying an additional 42 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Ulta Beauty during the fourth quarter valued at about $259,000. Finally, Advisors Capital Management LLC grew its stake in shares of Ulta Beauty by 0.5% during the fourth quarter. Advisors Capital Management LLC now owns 34,743 shares of the specialty retailer's stock valued at $15,111,000 after buying an additional 158 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Up 0.1%

Shares of ULTA opened at $498.70 on Tuesday. The company has a market capitalization of $22.42 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. The firm has a 50 day moving average of $483.83 and a 200 day moving average of $415.40. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve 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 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.47 earnings per share. On average, sell-side analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Canaccord Genuity Group raised their price objective on Ulta Beauty from $542.00 to $600.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Piper Sandler reaffirmed 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. Raymond James Financial reiterated an "outperform" rating and set a $500.00 target price (up from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $520.00 target price on shares of Ulta Beauty in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $469.09.

Ulta Beauty 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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