Lincluden Management Ltd. Invests $3.46 Million in Ulta Beauty Inc. $ULTA

Key Points

• Lincluden Management Ltd. invested approximately $3.46 million in Ulta Beauty Inc. by acquiring 7,391 shares in the 2nd quarter.
• Various institutional investors, including Concurrent Investment Advisors LLC and Apollon Wealth Management LLC, have increased their stakes in Ulta Beauty, reflecting growing interest from the investment community.
• Ulta Beauty reported earnings of $5.78 per share for the last quarter, surpassing estimates and posting a 9.3% increase in revenue year-over-year.

Lincluden Management Ltd. acquired a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,391 shares of the specialty retailer's stock, valued at approximately $3,458,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC raised its stake in Ulta Beauty by 142.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,331 shares of the specialty retailer's stock valued at $623,000 after acquiring an additional 782 shares during the last quarter. waypoint wealth counsel acquired a new stake in shares of Ulta Beauty in the 2nd quarter worth $246,000. Apollon Wealth Management LLC lifted its stake in shares of Ulta Beauty by 10.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 1,270 shares of the specialty retailer's stock worth $594,000 after acquiring an additional 119 shares during the period. Hemington Wealth Management lifted its stake in shares of 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 acquiring an additional 40 shares during the period. Finally, Fulcrum Capital LLC lifted its stake in shares of Ulta Beauty by 0.9% in the 2nd quarter. Fulcrum Capital LLC now owns 18,380 shares of the specialty retailer's stock worth $8,599,000 after acquiring an additional 163 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the sale, the director directly owned 2,263 shares of the company's stock, 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 accessible through this link. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ULTA shares. Bank of America raised their target price on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. UBS Group raised their target price on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Canaccord Genuity Group raised their target price on shares of Ulta Beauty from $650.00 to $653.00 and gave the stock a "buy" rating in a research note on Friday. Loop Capital restated a "hold" rating and issued a $510.00 target price on shares of Ulta Beauty in a research note on Friday, July 25th. Finally, Jefferies Financial Group raised their target price on shares of Ulta Beauty from $425.00 to $550.00 and gave the stock a "hold" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ulta Beauty has a consensus rating of "Moderate Buy" and an average price target of $549.33.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $549.28 on Friday. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $572.23. The company has a market capitalization of $24.63 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. The firm's 50-day moving average is $528.22 and its two-hundred day moving average is $464.56.

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