Y.D. More Investments Ltd Raises Stake in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Y.D. More Investments Ltd increased its stake in Ulta Beauty Inc. by 36.7% in the first quarter, owning a total of 4,468 shares valued at approximately $1.64 million.
• Major investment shifts were observed, with institutional investors owning 90.39% of Ulta Beauty's shares, indicating strong confidence in the company's growth.
• Ulta Beauty exceeded earnings expectations with $6.70 earnings per share for the last quarter, surpassing analyst estimates by $0.97, while reporting revenue of $2.85 billion.

Y.D. More Investments Ltd increased its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 36.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,468 shares of the specialty retailer's stock after purchasing an additional 1,200 shares during the quarter. Y.D. More Investments Ltd's holdings in Ulta Beauty were worth $1,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ULTA. American National Bank & Trust acquired a new stake in shares of Ulta Beauty during the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in Ulta Beauty in the 1st quarter valued at approximately $31,000. Rakuten Securities Inc. raised its holdings in 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 purchasing an additional 59 shares during the last quarter. North Star Investment Management Corp. boosted its position in 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 purchasing an additional 40 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Ulta Beauty in the first quarter valued at $37,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ULTA shares. Wells Fargo & Company boosted their price objective on shares of Ulta Beauty from $315.00 to $350.00 and gave the stock an "underweight" rating in a research report on Friday, May 30th. Raymond James Financial reaffirmed an "outperform" rating and issued a $500.00 price target (up previously from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. Citigroup raised their price objective on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. DA Davidson lifted their price objective on Ulta Beauty from $550.00 to $585.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $520.00 target price on shares of Ulta Beauty in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty presently has a consensus rating of "Hold" and an average target price of $469.09.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $516.19 on Thursday. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $523.68. The firm has a 50 day moving average price of $481.11 and a 200 day moving average price of $413.66. The company has a market cap of $23.20 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 3.08 and a beta of 1.12.

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 for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business earned $6.47 EPS. Ulta Beauty's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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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