Secure Asset Management LLC Purchases Shares of 862 Ulta Beauty Inc. $ULTA

Key Points

• Secure Asset Management LLC acquired a new stake in Ulta Beauty by purchasing 862 shares valued at approximately $403,000 in the second quarter.
• Ulta Beauty's latest quarterly earnings report showed an earnings per share of $5.78, exceeding analysts' expectations of $5.03, along with a year-over-year revenue increase of 9.3% to $2.79 billion.
• Analysts have boosted their price targets for Ulta Beauty, with UBS raising it from $640 to $680, while the stock currently holds a "Moderate Buy" average rating and a price target of approximately $543.13.

Secure Asset Management LLC purchased a new stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 862 shares of the specialty retailer's stock, valued at approximately $403,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Ulta Beauty by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock valued at $2,190,000 after purchasing an additional 924 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Ulta Beauty by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock valued at $435,000 after purchasing an additional 152 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Ulta Beauty during the 1st quarter valued at $201,000. Farther Finance Advisors LLC increased its stake in Ulta Beauty by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock valued at $275,000 after purchasing an additional 415 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC bought a new stake in Ulta Beauty during the 1st quarter valued at $250,000. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA opened at $534.81 on Friday. The company's 50-day moving average is $513.15 and its 200 day moving average is $441.96. The company has a market capitalization of $23.98 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.91 and a beta of 1.06. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $539.00.

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 for the quarter, topping analysts' consensus estimates of $5.03 by $0.75. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.30 EPS. As a group, research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on ULTA shares. UBS Group boosted their price target on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Loop Capital reiterated a "hold" rating and issued a $510.00 target price on shares of Ulta Beauty in a research note on Friday, July 25th. Canaccord Genuity Group set a $650.00 target price on shares of Ulta Beauty in a research note on Friday, August 29th. Finally, Cowen reiterated a "hold" rating on shares of Ulta Beauty in a research note on Friday, August 29th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $543.13.

Insider Buying and Selling at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the business's stock in a transaction dated 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 directly owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company's stock.

Ulta Beauty 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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