Mission Wealth Management LP Takes $224,000 Position in Ulta Beauty Inc. $ULTA

Mission Wealth Management LP acquired a new stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 479 shares of the specialty retailer’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Ulta Beauty by 128.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock valued at $449,021,000 after buying an additional 688,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Ulta Beauty by 64.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer’s stock valued at $341,453,000 after buying an additional 366,147 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Ulta Beauty by 81.7% during the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock valued at $334,871,000 after buying an additional 410,900 shares in the last quarter. Invesco Ltd. raised its position in shares of Ulta Beauty by 10.9% during the 1st quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock valued at $298,231,000 after buying an additional 79,666 shares in the last quarter. Finally, Swedbank AB raised its position in shares of Ulta Beauty by 17.4% during the 2nd quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock valued at $254,985,000 after buying an additional 80,734 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ULTA shares. Canaccord Genuity Group raised their price objective on shares of Ulta Beauty from $650.00 to $653.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wells Fargo & Company lifted their target price on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock an “underweight” rating in a research report on Thursday, October 16th. UBS Group lifted their target price on shares of Ulta Beauty from $640.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Barclays lifted their target price on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Cowen reiterated a “hold” rating on shares of Ulta Beauty in a research report on Friday, August 29th. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $550.38.

Ulta Beauty Trading Down 0.1%

ULTA stock opened at $516.66 on Wednesday. The firm’s 50-day moving average price is $530.72 and its two-hundred day moving average price is $485.93. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $572.23. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.85 and a beta of 1.05.

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

Insider Activity

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

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.