Perigon Wealth Management LLC Acquires New Stake in Ulta Beauty Inc. $ULTA

Key Points

• Perigon Wealth Management LLC acquired a new stake in Ulta Beauty Inc., purchasing 571 shares valued at approximately $267,000 in the second quarter.
• In its latest earnings report, Ulta Beauty exceeded expectations with $5.78 EPS and $2.79 billion in revenue, marking a 9.3% increase year-over-year.
• Analysts have mixed opinions on Ulta Beauty's stock; while JPMorgan raised its price target to $600, Wall Street Zen downgraded it from a "buy" to a "hold" rating.

Perigon Wealth Management LLC bought a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 571 shares of the specialty retailer's stock, valued at approximately $267,000.

Several other hedge funds also recently modified their holdings of ULTA. American National Bank & Trust acquired a new stake in shares of Ulta Beauty in the first quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in Ulta Beauty in the first quarter worth about $31,000. Rakuten Securities Inc. raised its position in Ulta Beauty by 218.5% in 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 in the last quarter. North Star Investment Management Corp. lifted its holdings in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 40 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Ulta Beauty during the 1st quarter valued at about $36,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Trading Down 1.3%

NASDAQ:ULTA opened at $546.75 on Wednesday. The business's fifty day moving average price is $521.01 and its 200 day moving average price is $453.27. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 3.05 and a beta of 1.06. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $554.13.

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

Insider Buying and Selling

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the company'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 value of $264,215.00. Following the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Friday, September 26th. JPMorgan Chase & Co. upped their price target on Ulta Beauty from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. UBS Group increased their price objective on Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Citigroup lifted their target price on Ulta Beauty from $450.00 to $550.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $610.00 price objective on shares of Ulta Beauty in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $544.20.

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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