Lincluden Management Ltd. Makes New Investment in Ulta Beauty Inc. $ULTA

Lincluden Management Ltd. purchased a new position in shares of Ulta Beauty Inc. (NASDAQ:ULTA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 7,391 shares of the specialty retailer’s stock, valued at approximately $3,458,000.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Ulta Beauty during the 1st quarter worth about $31,000. Hemington Wealth Management lifted its holdings in shares of Ulta Beauty by 142.9% during the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 40 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% during the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% during the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 40 shares during the period. Finally, Ransom Advisory Ltd purchased a new position in shares of Ulta Beauty during the 1st quarter worth about $36,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Citigroup increased their price objective on shares of Ulta Beauty from $450.00 to $550.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Jefferies Financial Group increased their price objective on shares of Ulta Beauty from $425.00 to $550.00 and gave the stock a “hold” rating in a report on Tuesday, August 26th. Wells Fargo & Company increased their price objective on shares of Ulta Beauty from $400.00 to $425.00 and gave the stock an “underweight” rating in a report on Friday, August 29th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $549.33.

Insider Activity

In other news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction that occurred 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 sale, the director owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $549.28 on Friday. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $572.23. The company’s 50 day moving average price is $528.22 and its 200 day moving average price is $464.56. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 3.02 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating the consensus estimate of $5.03 by $0.75. The firm 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 for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.30 earnings per share. Sell-side analysts forecast that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal 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.