Western Wealth Management LLC Purchases Shares of 449 Ulta Beauty Inc. $ULTA

Western Wealth Management LLC purchased a new position in Ulta Beauty Inc. (NASDAQ:ULTA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 449 shares of the specialty retailer’s stock, valued at approximately $210,000.

A number of other large investors have also recently made changes to their positions in ULTA. Hemington Wealth Management increased its position in shares of Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 40 shares during the period. Ransom Advisory Ltd purchased a new stake in Ulta Beauty during the 1st quarter valued at about $36,000. Costello Asset Management INC acquired a new position in shares of Ulta Beauty in the first quarter valued at about $37,000. MTM Investment Management LLC purchased a new position in shares of Ulta Beauty in the second quarter worth about $47,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in shares of Ulta Beauty in the second quarter worth about $52,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares of the company’s stock, valued at $1,195,837.09. This represents a 18.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ULTA shares. Canaccord Genuity Group upped their target price on Ulta Beauty from $650.00 to $653.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Bank of America lifted their price objective on shares of Ulta Beauty from $500.00 to $575.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Piper Sandler initiated coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They issued an “overweight” rating and a $590.00 price objective on the stock. Telsey Advisory Group restated an “outperform” rating and set a $610.00 target price on shares of Ulta Beauty in a research report on Friday, October 17th. Finally, Wells Fargo & Company upped their price target on shares of Ulta Beauty from $425.00 to $450.00 and gave the company an “underweight” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ulta Beauty presently has an average rating of “Moderate Buy” and an average target price of $550.38.

Ulta Beauty Stock Performance

ULTA opened at $497.41 on Thursday. The company has a fifty day moving average of $530.62 and a two-hundred day moving average of $495.46. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $572.23. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 3.36 and a beta of 1.05.

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

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.