Wealth Enhancement Advisory Services LLC Acquires 5,207 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 110.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,926 shares of the specialty retailer's stock after acquiring an additional 5,207 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ulta Beauty were worth $3,638,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CVA Family Office LLC increased its holdings in Ulta Beauty by 57.1% in the 1st quarter. CVA Family Office LLC now owns 110 shares of the specialty retailer's stock valued at $40,000 after buying an additional 40 shares during the period. RMR Wealth Builders raised its position in shares of Ulta Beauty by 3.3% in the 1st quarter. RMR Wealth Builders now owns 970 shares of the specialty retailer's stock valued at $356,000 after buying an additional 31 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Ulta Beauty by 12.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,962 shares of the specialty retailer's stock valued at $1,086,000 after buying an additional 317 shares in the last quarter. Simon Quick Advisors LLC raised its position in shares of Ulta Beauty by 62.2% in the 1st quarter. Simon Quick Advisors LLC now owns 756 shares of the specialty retailer's stock valued at $277,000 after buying an additional 290 shares in the last quarter. Finally, Coerente Capital Management raised its position in shares of Ulta Beauty by 1.2% in the 1st quarter. Coerente Capital Management now owns 37,296 shares of the specialty retailer's stock valued at $13,670,000 after buying an additional 432 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Insider Transactions at Ulta Beauty

In other news, insider Jodi J. Caro sold 902 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the sale, the insider now directly owns 7,632 shares in the company, valued at $2,817,429.12. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Ulta Beauty Stock Performance

Shares of NASDAQ ULTA opened at $457.66 on Friday. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $491.98. The firm has a 50 day moving average price of $425.67 and a two-hundred day moving average price of $399.98. The stock has a market cap of $20.57 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 2.71 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period in the prior year, the company posted $6.47 EPS. The company's revenue was up 4.5% on a year-over-year basis. Analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ULTA. Citigroup boosted their target price on shares of Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Canaccord Genuity Group boosted their target price on shares of Ulta Beauty from $510.00 to $542.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Stifel Nicolaus dropped their target price on shares of Ulta Beauty from $475.00 to $400.00 and set a "hold" rating for the company in a research report on Friday, March 14th. Loop Capital restated a "buy" rating and issued a $510.00 target price (up from $480.00) on shares of Ulta Beauty in a research report on Monday, June 16th. Finally, Bank of America dropped their target price on shares of Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $462.22.

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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