Cwm LLC Boosts Position in Ulta Beauty Inc. $ULTA

Key Points

• Cwm LLC has increased its stake in Ulta Beauty Inc. by 53.2% during the second quarter, now holding 20,126 shares valued at approximately $9.4 million.
• Several analysts have recently raised their price targets on Ulta Beauty, with estimates reaching as high as $653, reflecting strong investor confidence in the company.
• Ulta Beauty's last quarterly earnings beat expectations, reporting $5.78 EPS versus estimates of $5.03 EPS, with revenues of $2.79 billion, marking a 9.3% year-over-year increase.

Cwm LLC increased its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 53.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,126 shares of the specialty retailer's stock after buying an additional 6,993 shares during the period. Cwm LLC's holdings in Ulta Beauty were worth $9,416,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Ulta Beauty in the 1st quarter worth about $31,000. Hemington Wealth Management increased its stake in Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer's stock worth $31,000 after buying an additional 40 shares during the period. Rakuten Securities Inc. increased its stake in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. increased its stake in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after buying an additional 40 shares during the period. Finally, Ransom Advisory Ltd bought a new position in Ulta Beauty during the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

ULTA has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of Ulta Beauty from $550.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Evercore ISI increased their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $610.00 target price on shares of Ulta Beauty in a report on Monday, September 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ulta Beauty in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group increased their target price on shares of Ulta Beauty from $650.00 to $653.00 and gave the stock a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $549.33.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $541.01 on Wednesday. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $572.23. The stock has a market capitalization of $24.26 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.99 and a beta of 1.08. The company's 50-day simple moving average is $529.39 and its 200-day simple moving average is $467.02.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share 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 business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the business earned $5.30 EPS. The company's revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Insider Buying and Selling at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the sale, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.39% of the company's stock.

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.

Want to see what other hedge funds are holding ULTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ulta Beauty Inc. (NASDAQ:ULTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.