First Horizon Advisors Inc. Lowers Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

First Horizon Advisors Inc. trimmed its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 37.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199 shares of the specialty retailer’s stock after selling 120 shares during the period. First Horizon Advisors Inc.’s holdings in Ulta Beauty were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ULTA. CreativeOne Wealth LLC bought a new position in Ulta Beauty in the 1st quarter worth about $281,000. LRI Investments LLC purchased a new stake in Ulta Beauty in the first quarter valued at approximately $34,000. Kennedy Capital Management LLC lifted its position in Ulta Beauty by 4.3% during the first quarter. Kennedy Capital Management LLC now owns 5,832 shares of the specialty retailer’s stock valued at $3,049,000 after purchasing an additional 242 shares during the last quarter. Interval Partners LP purchased a new position in Ulta Beauty in the 1st quarter worth approximately $9,543,000. Finally, Dynasty Wealth Management LLC bought a new position in shares of Ulta Beauty in the 1st quarter worth $421,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $338.38 on Monday. The firm has a 50-day simple moving average of $376.80 and a two-hundred day simple moving average of $377.22. The firm has a market cap of $15.94 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.94 and a beta of 1.33. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. Ulta Beauty’s revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Ulta Beauty, Inc. will post 23.07 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ULTA. Citigroup cut their target price on shares of Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Piper Sandler increased their price objective on Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. DA Davidson dropped their target price on Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, August 30th. UBS Group reduced their price target on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, BMO Capital Markets set a $385.00 price objective on shares of Ulta Beauty in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty currently has a consensus rating of “Hold” and an average target price of $420.71.

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.