Boothe Investment Group Inc. Invests $7.57 Million in Ulta Beauty, Inc. (NASDAQ:ULTA)

Boothe Investment Group Inc. purchased a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,652 shares of the specialty retailer’s stock, valued at approximately $7,570,000. Ulta Beauty makes up about 3.5% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 7th largest position.

A number of other large investors have also made changes to their positions in the business. Prestige Wealth Management Group LLC grew its holdings in shares of Ulta Beauty by 121.4% during 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 last quarter. American National Bank & Trust purchased a new stake in Ulta Beauty in the first quarter valued at $29,000. North Star Investment Management Corp. boosted its holdings in Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 40 shares during the last quarter. NBC Securities Inc. purchased a new stake in Ulta Beauty in the first quarter valued at $37,000. Finally, CVA Family Office LLC boosted its holdings in Ulta Beauty by 57.1% in the first 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 last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jodi J. Caro sold 902 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Ulta Beauty Trading Down 0.7%

ULTA stock opened at $459.17 on Monday. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.89 and a beta of 1.09. Ulta Beauty, Inc. has a 12 month low of $309.01 and a 12 month high of $491.98. The firm has a 50-day moving average of $405.37 and a two-hundred day moving average of $395.76.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. Ulta Beauty’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.47 EPS. As a group, equities analysts forecast that Ulta Beauty, Inc. will post 23.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and upped their price target for the company from $384.00 to $423.00 in a report on Tuesday, April 1st. Truist Financial upped their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Telsey Advisory Group upped their price target on shares of Ulta Beauty from $460.00 to $520.00 and gave the company an “outperform” rating in a report on Friday, May 30th. UBS Group upped their price target on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Barclays upped their price target on shares of Ulta Beauty from $327.00 to $485.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and a consensus target price of $460.91.

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.