Ritholtz Wealth Management Buys Shares of 1,721 Ulta Beauty Inc. (NASDAQ:ULTA)

Ritholtz Wealth Management bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,721 shares of the specialty retailer’s stock, valued at approximately $631,000.

Other hedge funds have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its stake in shares of Ulta Beauty by 121.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 34 shares during the period. American National Bank & Trust bought a new stake in shares of Ulta Beauty during the 1st quarter valued at $29,000. Edge Capital Group LLC bought a new stake in shares of Ulta Beauty during the 4th quarter valued at $33,000. NBC Securities Inc. bought a new stake in shares of Ulta Beauty during the 1st quarter valued at $37,000. Finally, CVA Family Office LLC raised its stake in shares of Ulta Beauty by 57.1% during the 1st quarter. CVA Family Office LLC now owns 110 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 40 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital boosted their price objective on Ulta Beauty from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on Ulta Beauty from $315.00 to $350.00 and gave the company an “underweight” rating in a research note on Friday, May 30th. Morgan Stanley boosted their price objective on Ulta Beauty from $460.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Barclays boosted their price objective on Ulta Beauty from $327.00 to $485.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Finally, Telsey Advisory Group boosted their price objective on Ulta Beauty from $460.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $462.22.

Insider Transactions at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction dated Tuesday, April 1st. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

Ulta Beauty Trading Up 0.4%

ULTA opened at $473.46 on Thursday. The stock has a 50-day moving average price of $412.63 and a 200-day moving average price of $397.41. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $491.98. The stock has a market capitalization of $21.28 billion, a P/E ratio of 18.49, a PEG ratio of 2.79 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. 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 business earned $6.47 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Ulta Beauty Inc. will post 23.96 EPS 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.