Jessup Wealth Management Inc Invests $224,000 in Ulta Beauty Inc. $ULTA

Jessup Wealth Management Inc acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 480 shares of the specialty retailer’s stock, valued at approximately $224,000.

A number of other large investors also recently bought and sold shares of the stock. Wayfinding Financial LLC acquired a new stake in shares of Ulta Beauty during the first quarter valued at about $31,000. Hemington Wealth Management raised its position 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 purchasing an additional 40 shares during the period. Ransom Advisory Ltd acquired a new position in Ulta Beauty during the first quarter worth $36,000. Costello Asset Management INC purchased a new position in shares of Ulta Beauty during the first quarter worth $37,000. Finally, Larson Financial Group LLC grew its position in Ulta Beauty by 178.4% in the 1st quarter. Larson Financial Group LLC now owns 103 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Transactions at Ulta Beauty

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

Ulta Beauty Trading Up 2.0%

Shares of NASDAQ:ULTA opened at $519.88 on Friday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $572.23. The company’s 50 day moving average is $531.05 and its two-hundred day moving average is $482.74. The company has a market cap of $23.31 billion, a PE ratio of 19.93, a P/E/G ratio of 2.86 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last issued its 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 firm had revenue of $2.79 billion during 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 company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.30 earnings per share. As a group, equities research analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Loop Capital reissued a “hold” rating and set a $510.00 price target on shares of Ulta Beauty in a research report on Friday, July 25th. Robert W. Baird upped 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 raised their price target on shares of Ulta Beauty from $589.00 to $617.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Raymond James Financial restated an “outperform” rating and issued a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a research note on Friday, August 29th. Finally, Oppenheimer increased their price objective on Ulta Beauty from $510.00 to $600.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $550.38.

Ulta Beauty Company 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.