Ulta Beauty Shares Climb 12% After Warren Buffett's Berkshire Bought the Stock

$Ulta Beauty (ULTA.US)$ shares climb more than 11% after billionaire Warren Buffett's $Berkshire Hathaway-A (BRK.A.US)$ disclosed that it added the stock to its portfolio.  

Berkshire's 13F filing with the Securities and Exchange Commissioned Wednesday showed the company owned a total of 690,106 Ulta shares as of June 30. That stake was valued at $266.3 million at the time of filing, the document showed. While that spurred investor interest in the beauty products retailer, it pales in comparison to the Omaha-based company's 10 million $Amazon (AMZN.US)$ shares valued at $1.93 billion, its largest holding in the consumer discretionary sector.

Ulta led the advance on the $S&P 500 Index (.SPX.US)$. The stock rally also came after the Consumer discretionary stocks rose more than 3% after the Commerce Department released its advance estimates that show U.S. retail and food services sales rose 1% to $709.7 billion in July from a month earlier. That's better than the 0.3% expected by economists surveyed by Dow Jones, according to a CNBC report.

$Walmart (WMT.US)$ advanced 6.4%, the second biggest gainer on the $Dow Jones Industrial Average (.DJI.US)$.  Other discretionary stocks were among the day's top performer including $Tesla (TSLA.US)$, Amazon, $Nike (NKE.US)$, $Disney (DIS.US)$, $Paramount Global-B (PARA.US)$, $Caesars Entertainment (CZR.US)$, $Lululemon Athletica (LULU.US)$ and $Carnival (CCL.US)$.

Ulta's competitor $Sally Beauty Holdings (SBH.US)$ also joined the rally, advancing 11.5%.

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