First Hawaiian Bank Purchases 519 Shares of Ulta Beauty Inc. $ULTA

Key Points

• First Hawaiian Bank increased its holdings in Ulta Beauty Inc. by 20.2%, purchasing an additional 519 shares, bringing its total to 3,087 shares worth approximately $1,132,000.
• Analysts have raised their price targets for Ulta Beauty, with UBS Group setting a new target of $680.00, highlighting a positive outlook as several firms maintain "buy" ratings.
• Ulta Beauty reported earnings of $5.78 per share in its latest quarter, exceeding consensus estimates significantly, and saw a 9.3% year-over-year revenue increase to $2.79 billion.

First Hawaiian Bank grew its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,087 shares of the specialty retailer's stock after buying an additional 519 shares during the quarter. First Hawaiian Bank's holdings in Ulta Beauty were worth $1,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ULTA. Wambolt & Associates LLC boosted its holdings in shares of Ulta Beauty by 1.6% in the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock worth $626,000 after acquiring an additional 26 shares in the last quarter. Westside Investment Management Inc. raised its position in Ulta Beauty by 32.5% in the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock valued at $40,000 after purchasing an additional 27 shares during the last quarter. Procyon Advisors LLC boosted its stake in Ulta Beauty by 4.3% in the first quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after purchasing an additional 29 shares in the last quarter. Sagespring Wealth Partners LLC increased its position in Ulta Beauty by 5.0% in the 1st quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock valued at $229,000 after acquiring an additional 30 shares in the last quarter. Finally, LaFleur & Godfrey LLC raised its stake in shares of Ulta Beauty by 1.2% in the first quarter. LaFleur & Godfrey LLC now owns 2,485 shares of the specialty retailer's stock worth $911,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

ULTA has been the topic of several research analyst reports. Raymond James Financial reissued an "outperform" rating and set a $605.00 price target (up from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. UBS Group increased their price objective on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Cowen reissued a "hold" rating on shares of Ulta Beauty in a research note on Friday, August 29th. Barclays upped their price target on Ulta Beauty from $589.00 to $617.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Finally, The Goldman Sachs Group raised their price target on Ulta Beauty from $530.00 to $584.00 and gave the company a "buy" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $543.13.

Insiders Place Their Bets

In related news, Director Mike C. Smith sold 500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Ulta Beauty Stock Down 1.4%

NASDAQ:ULTA opened at $514.62 on Friday. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $539.00. The stock's fifty day simple moving average is $509.07 and its 200-day simple moving average is $437.85. The firm has a market capitalization of $23.08 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.87 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm posted $5.30 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

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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