Sunpointe LLC Makes New Investment in Ulta Beauty Inc. $ULTA

Sunpointe LLC purchased a new position in Ulta Beauty Inc. (NASDAQ:ULTA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,160 shares of the specialty retailer’s stock, valued at approximately $1,478,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 924 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 152 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Ulta Beauty during the 1st quarter valued at approximately $201,000. Farther Finance Advisors LLC boosted its position in shares of 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 acquiring an additional 415 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC bought a new position in shares of Ulta Beauty during the 1st quarter valued at approximately $250,000. 90.39% of the stock is currently owned by institutional investors.

Ulta Beauty Trading Down 0.2%

Shares of Ulta Beauty stock opened at $525.21 on Wednesday. The firm has a market cap of $23.55 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.89 and a beta of 1.06. Ulta Beauty Inc. has a 12 month low of $309.01 and a 12 month high of $539.00. The stock’s fifty day moving average price is $510.91 and its 200-day moving average price is $440.06.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $0.75. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm earned $5.30 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analyst Weigh In

ULTA has been the subject of a number of research reports. DA Davidson increased their target price on Ulta Beauty from $585.00 to $625.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Raymond James Financial reiterated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Canaccord Genuity Group set a $650.00 target price on Ulta Beauty in a research report on Friday, August 29th. Oppenheimer increased their target price on Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Finally, UBS Group increased their target price on Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $543.13.

Insiders Place Their Bets

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was 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 trade represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.