MBB Public Markets I LLC Takes Position in Ulta Beauty Inc. $ULTA

Key Points

• MBB Public Markets I LLC has acquired a new stake in Ulta Beauty Inc., buying 919 shares valued at approximately $337,000 during the first quarter of the year.
• Analysts have raised their target prices for Ulta Beauty, with estimates ranging from $550.00 to $680.00 and 14 analysts rating the stock as a Buy.
• Ulta Beauty reported strong quarterly earnings, with an EPS of $5.78 that surpassed expectations, and revenue increasing by 9.3% year-over-year to $2.79 billion.

MBB Public Markets I LLC acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 919 shares of the specialty retailer's stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wambolt & Associates LLC lifted its holdings in Ulta Beauty by 1.6% during the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock worth $626,000 after buying an additional 26 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Ulta Beauty by 32.5% during the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after buying an additional 27 shares during the last quarter. Procyon Advisors LLC lifted its holdings in Ulta Beauty by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after buying an additional 29 shares during the last quarter. Sagespring Wealth Partners LLC lifted its holdings in Ulta Beauty by 5.0% during the 1st quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock worth $229,000 after buying an additional 30 shares during the last quarter. Finally, LaFleur & Godfrey LLC lifted its holdings in Ulta Beauty by 1.2% during the 1st quarter. LaFleur & Godfrey LLC now owns 2,485 shares of the specialty retailer's stock worth $911,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

ULTA has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Ulta Beauty from $550.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Piper Sandler started coverage on Ulta Beauty in a research note on Thursday. They set an "overweight" rating and a $590.00 price objective for the company. Citigroup increased their target price on Ulta Beauty from $450.00 to $550.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Canaccord Genuity Group set a $650.00 target price on Ulta Beauty in a research note on Friday, August 29th. Finally, UBS Group raised their target price on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $543.13.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $514.86 on Monday. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $539.00. The stock has a market cap of $23.09 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.06. The business's fifty day moving average is $504.79 and its 200-day moving average is $433.02.

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