IFG Advisors LLC Makes New Investment in Ulta Beauty Inc. $ULTA

Key Points

• IFG Advisors LLC has made a new investment in Ulta Beauty Inc. by acquiring 501 shares worth approximately $234,000 during the 2nd quarter.
• Ulta Beauty reported a Q2 earnings per share of $5.78, exceeding analyst expectations and showing a 9.3% increase in revenue year-over-year.
• Several research firms have upgraded their price targets for Ulta Beauty, with Oppenheimer raising it from $510 to $600 and DA Davidson increasing it from $585 to $625.

IFG Advisors LLC bought a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 501 shares of the specialty retailer's stock, valued at approximately $234,000.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Ulta Beauty by 17.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after purchasing an additional 924 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Ulta Beauty by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock valued at $435,000 after acquiring an additional 152 shares in the last quarter. Ascent Group LLC purchased a new stake in Ulta Beauty during the 2nd quarter valued at about $395,000. Concurrent Investment Advisors LLC purchased a new position in shares of Ulta Beauty during the 1st quarter worth $201,000. Finally, J. Safra Sarasin Holding AG raised its position in shares of Ulta Beauty by 167.8% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 4,513 shares of the specialty retailer's stock valued at $2,111,000 after buying an additional 2,828 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Stock Down 0.4%

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 firm's 50 day moving average is $529.39 and its two-hundred day moving average is $467.02. The company has a market cap 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.

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 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $5.30 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. Research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Transactions at Ulta Beauty

In other Ulta Beauty 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 sale, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ULTA. Oppenheimer boosted their price objective on Ulta Beauty from $510.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. DA Davidson boosted their target price on Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a report on Friday, August 29th. Robert W. Baird lifted their price objective on shares of Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Raymond James Financial reissued an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. Finally, Wall Street Zen downgraded Ulta Beauty from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $549.33.

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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