AGF Management Ltd. Takes Position in Ulta Beauty Inc. $ULTA

AGF Management Ltd. bought a new position in Ulta Beauty Inc. (NASDAQ:ULTA) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,303 shares of the specialty retailer’s stock, valued at approximately $610,000.

Several other large investors also recently bought and sold shares of ULTA. Hemington Wealth Management raised its holdings in shares of Ulta Beauty by 142.9% in the second quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after buying an additional 40 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Ulta Beauty during the first quarter valued at $36,000. Costello Asset Management INC acquired a new position in shares of Ulta Beauty in the 1st quarter valued at $37,000. Larson Financial Group LLC raised its stake in Ulta Beauty by 178.4% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 66 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in Ulta Beauty in the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

NASDAQ:ULTA opened at $522.83 on Wednesday. The company has a 50 day moving average price of $530.85 and a 200-day moving average price of $490.84. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $572.23. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.84 and a beta of 1.05.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.30 earnings per share. On average, sell-side analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director owned 2,263 shares of the company’s stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ULTA shares. Loop Capital reiterated a “hold” rating and set a $510.00 price target on shares of Ulta Beauty in a research note on Friday, July 25th. Evercore ISI upped their target price on Ulta Beauty from $595.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Argus upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price target on the stock in a report on Thursday, September 25th. Robert W. Baird raised their price target on shares of Ulta Beauty from $575.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ulta Beauty from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $550.38.

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.