Berkshire Hathaway Builds New Stake in Ulta Beauty
Berkshire Hathaway Acquires Ulta Beauty Stake
Warren Buffett's Berkshire Hathaway took a stake in Ulta Beauty (ULTA) last quarter and bought more in the latest period, according to a regulatory filing Wednesday.
Ulta Beauty Shares Surge on Berkshire News
Ulta Beauty shares surged nearly 14% in extended trading on Wednesday after the filing was released. The stock is up 14.5% to trade at $366.88 at last check.
Berkshire's Stake in Ulta Beauty
Berkshire Hathaway acquired 690,000 shares of Ulta Beauty, worth about $250 million at Wednesday's closing price.
Berkshire Hathaway also bought stakes in aircraft parts maker Heico and video game company Activision Blizzard during the quarter.
The company sold its stake in Kroger and reduced its holdings in Verizon Communications and Chevron.
Warren Buffett's Track Record
Buffett is one of the most successful investors of all time, and his investment decisions are closely watched by Wall Street.
Berkshire Hathaway's investment in Ulta Beauty is a sign of confidence in the company's future prospects.
Ulta Beauty's Business
Ulta Beauty is a leading retailer of cosmetics, skincare, and hair care products.
The company operates over 1,300 stores in the United States and has a strong online presence.
Ulta Beauty has been growing rapidly in recent years, and its sales are expected to continue to grow in the future.
The Takeaway
Berkshire Hathaway's investment in Ulta Beauty is a major vote of confidence in the company.
Ulta Beauty is a well-positioned company with a strong track record of growth.
Investors should consider adding Ulta Beauty to their watchlists.
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