Optas LLC Invests $269,000 in Ulta Beauty Inc. $ULTA

Key Points

• Optas LLC has invested approximately $269,000 in Ulta Beauty Inc., acquiring 575 shares of the company during the second quarter, according to its 13F filing.
• Ulta Beauty reported a 9.3% year-over-year revenue increase, posting $2.79 billion in revenue and $5.78 EPS, surpassing analyst expectations.
• A mix of analysts have given Ulta Beauty a Moderate Buy average rating, with target prices ranging from $425 to $640.

Optas LLC purchased a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 575 shares of the specialty retailer's stock, valued at approximately $269,000.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Ulta Beauty during the first quarter worth about $31,000. Rakuten Securities Inc. grew its stake in shares of Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 59 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 40 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Ulta Beauty during the first quarter worth about $36,000. Finally, Costello Asset Management INC purchased a new stake in shares of Ulta Beauty during the first quarter worth about $37,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Trading Down 0.8%

Shares of NASDAQ:ULTA opened at $561.15 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 $25.16 billion, a PE ratio of 21.52, a PEG ratio of 3.12 and a beta of 1.08. The business has a 50 day moving average of $527.39 and a two-hundred day moving average of $462.69.

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 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company posted $5.30 earnings per share. Ulta Beauty's revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ULTA shares. Cowen reiterated a "hold" rating on shares of Ulta Beauty in a research report on Friday, August 29th. Wells Fargo & Company upped their target price on Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a research report on Friday, August 29th. Piper Sandler started coverage on Ulta Beauty in a research report on Thursday, September 4th. They issued an "overweight" rating and a $590.00 target price on the stock. Evercore ISI upped their target price on Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Loop Capital reiterated a "hold" rating and issued a $510.00 target price on shares of Ulta Beauty in a research report on Friday, July 25th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $549.21.

Insider Buying and Selling at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 2,263 shares of the company's stock, valued at $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by insiders.

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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