waypoint wealth counsel Invests $246,000 in Ulta Beauty Inc. $ULTA

waypoint wealth counsel acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 525 shares of the specialty retailer’s stock, valued at approximately $246,000.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Ulta Beauty in the first quarter valued at approximately $31,000. Hemington Wealth Management increased its stake in Ulta Beauty by 142.9% in the second 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 last quarter. Rakuten Securities Inc. increased its stake in Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 59 shares during the last quarter. North Star Investment Management Corp. increased its stake 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 acquiring an additional 40 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in Ulta Beauty in the first quarter valued at approximately $36,000. 90.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ULTA. Evercore ISI lifted their price objective on shares of Ulta Beauty from $595.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Argus raised shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price objective on the stock in a research note on Thursday, September 25th. Robert W. Baird boosted their target price on shares of Ulta Beauty from $575.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Barclays boosted their target price on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $610.00 target price on shares of Ulta Beauty in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $549.33.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA opened at $549.28 on Monday. The firm has a market cap of $24.63 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. The firm’s fifty day moving average is $528.22 and its 200-day moving average is $465.22. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23.

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

Insider Activity at Ulta Beauty

In other news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the transaction, the director owned 2,263 shares in the company, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.