Parcion Private Wealth LLC Buys Shares of 518 Ulta Beauty Inc. $ULTA

Key Points

• Parcion Private Wealth LLC acquired 518 shares of Ulta Beauty Inc. during the second quarter, with the total investment valued at approximately $242,000.
• Several institutional investors have recently increased their stakes in Ulta Beauty, with 90.39% of the stock now held by these investors.
• Analysts have raised Ulta Beauty's price targets significantly, with Morgan Stanley and Robert W. Baird both setting new targets of $600.00, reflecting positive outlooks for the company.

Parcion Private Wealth LLC bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 518 shares of the specialty retailer's stock, valued at approximately $242,000.

A number of other institutional investors also recently modified their holdings of the business. ORG Partners LLC lifted its stake in shares of Ulta Beauty by 17.7% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the specialty retailer's stock valued at $72,000 after buying an additional 23 shares in the last quarter. Chesley Taft & Associates LLC lifted its stake in shares of Ulta Beauty by 3.0% during the 2nd quarter. Chesley Taft & Associates LLC now owns 834 shares of the specialty retailer's stock valued at $390,000 after buying an additional 24 shares in the last quarter. OFI Invest Asset Management lifted its stake in shares of Ulta Beauty by 6.8% during the 2nd quarter. OFI Invest Asset Management now owns 375 shares of the specialty retailer's stock valued at $175,000 after buying an additional 24 shares in the last quarter. Wambolt & Associates LLC lifted its stake in shares of Ulta Beauty by 1.6% during the 1st quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock valued at $626,000 after buying an additional 26 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of Ulta Beauty by 32.5% during the 1st quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock valued at $40,000 after buying an additional 27 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Robert W. Baird upped their price target 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. Argus raised shares of Ulta Beauty from a "hold" rating to a "buy" rating and set a $570.00 target price on the stock in a report on Thursday, September 25th. Evercore ISI upped their target price on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Piper Sandler assumed coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $590.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $550.38.

Ulta Beauty Stock Performance

Shares of Ulta Beauty stock opened at $519.33 on Thursday. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $572.23. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08. The company has a fifty day moving average of $531.60 and a 200-day moving average of $472.96.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.31% and a return on equity of 48.78%. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the prior year, the company earned $5.30 EPS. The firm's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the sale, the director owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company's stock.

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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