Institute for Wealth Management LLC. Invests $309,000 in Ulta Beauty Inc. (ULTA) Stock
Institute for Wealth Management LLC. bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,084 shares of the specialty retailer’s stock, valued at approximately $309,000.
Other large investors have also bought and sold shares of the company. UBS Asset Management Americas Inc. lifted its stake in Ulta Beauty by 18.8% during the first quarter. UBS Asset Management Americas Inc. now owns 165,284 shares of the specialty retailer’s stock worth $47,144,000 after purchasing an additional 26,119 shares during the period. Martingale Asset Management L P acquired a new stake in Ulta Beauty during the first quarter valued at approximately $886,000. KBC Group NV boosted its holdings in Ulta Beauty by 11.9% during the first quarter. KBC Group NV now owns 6,712 shares of the specialty retailer’s stock valued at $1,914,000 after purchasing an additional 712 shares in the last quarter. Cibc World Markets Corp boosted its holdings in Ulta Beauty by 51.8% during the first quarter. Cibc World Markets Corp now owns 6,110 shares of the specialty retailer’s stock valued at $1,743,000 after purchasing an additional 2,084 shares in the last quarter. Finally, EFG Asset Management Americas Corp. acquired a new stake in Ulta Beauty during the first quarter valued at approximately $221,000. 87.91% of the stock is owned by hedge funds and other institutional investors.
Ulta Beauty Inc. (NASDAQ ULTA) traded down 0.58% during midday trading on Tuesday, hitting $222.51. The stock had a trading volume of 56,913 shares. The company has a market capitalization of $13.67 billion, a PE ratio of 29.62 and a beta of 0.57. The company’s 50-day moving average price is $226.61 and its 200 day moving average price is $267.35. Ulta Beauty Inc. has a 52 week low of $204.01 and a 52 week high of $314.86.
Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. Ulta Beauty had a return on equity of 29.33% and a net margin of 8.84%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts expect that Ulta Beauty Inc. will post $8.39 EPS for the current year.
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ULTA has been the topic of several analyst reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $260.00 price objective (down from $330.00) on shares of Ulta Beauty in a research note on Tuesday, September 5th. Robert W. Baird restated an “outperform” rating and set a $295.00 target price (down previously from $335.00) on shares of Ulta Beauty in a research report on Friday, August 25th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed an “outperform” rating and issued a $345.00 price target on shares of Ulta Beauty in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $310.00 price target on shares of Ulta Beauty in a research note on Thursday, August 17th. Finally, BidaskClub cut Ulta Beauty from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. Ulta Beauty presently has a consensus rating of “Hold” and a consensus price target of $281.63.
In other news, Director Michael R. Macdonald purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $208.37 per share, with a total value of $416,740.00. Following the completion of the purchase, the director now owns 6,224 shares of the company’s stock, valued at approximately $1,296,894.88. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.20% of the stock is currently owned by company insiders.
Ulta Beauty Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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