Evergreen Private Wealth LLC Grows Position in Ulta Beauty Inc. $ULTA

Key Points

• Evergreen Private Wealth LLC has increased its stake in Ulta Beauty Inc. by 9.4% during the second quarter, now holding 11,507 shares valued at approximately $5.38 million.
• Multiple analysts have raised their price targets for Ulta Beauty, with Evercore ISI setting a new objective of $640.00 and Morgan Stanley increasing theirs to $600.00.
• Ulta Beauty reported earnings of $5.78 per share for the last quarter, surpassing analyst expectations and achieving a revenue increase of 9.3% year-over-year.

Evergreen Private Wealth LLC boosted its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,507 shares of the specialty retailer's stock after acquiring an additional 989 shares during the period. Ulta Beauty accounts for 2.3% of Evergreen Private Wealth LLC's portfolio, making the stock its 17th largest position. Evergreen Private Wealth LLC's holdings in Ulta Beauty were worth $5,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ULTA. CX Institutional lifted its stake in Ulta Beauty by 8.2% during the second quarter. CX Institutional now owns 424 shares of the specialty retailer's stock valued at $198,000 after buying an additional 32 shares in the last quarter. Dakota Wealth Management boosted its position in shares of Ulta Beauty by 13.4% in the second quarter. Dakota Wealth Management now owns 4,013 shares of the specialty retailer's stock valued at $1,877,000 after acquiring an additional 474 shares during the period. Perigon Wealth Management LLC acquired a new stake in Ulta Beauty during the second quarter valued at approximately $267,000. Retireful LLC bought a new stake in shares of Ulta Beauty in the 2nd quarter worth about $209,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Ulta Beauty by 5.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,067 shares of the specialty retailer's stock worth $7,049,000 after purchasing an additional 813 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ULTA. Evercore ISI boosted their price objective on Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Morgan Stanley increased their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Robert W. Baird boosted their price objective on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Ulta Beauty from $525.00 to $600.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $605.00 price objective (up previously from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $544.20.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the sale, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

Ulta Beauty Trading Up 0.7%

NASDAQ:ULTA opened at $539.48 on Friday. The stock has a market cap of $24.19 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.95 and a beta of 1.06. The stock's 50-day moving average is $517.83 and its 200-day moving average is $448.02. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $540.19.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its 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 return on equity of 48.78% and a net margin of 10.31%.The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the firm earned $5.30 earnings per share. Ulta Beauty's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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.

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