Summitry LLC Purchases 5,137 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Summitry LLC increased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,671 shares of the specialty retailer’s stock after purchasing an additional 5,137 shares during the quarter. Ulta Beauty makes up approximately 4.6% of Summitry LLC’s investment portfolio, making the stock its 6th largest position. Summitry LLC owned about 0.47% of Ulta Beauty worth $94,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC lifted its stake in Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 34 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Ulta Beauty by 118.4% during the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 45 shares in the last quarter. Westside Investment Management Inc. lifted its position in Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 50 shares in the last quarter. Edge Capital Group LLC purchased a new stake in Ulta Beauty in the 4th quarter valued at $33,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Ulta Beauty in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. B. Riley lowered their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on shares of Ulta Beauty from $480.00 to $475.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. DA Davidson reduced their price target on shares of Ulta Beauty from $510.00 to $415.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Barclays lowered their price objective on Ulta Beauty from $445.00 to $327.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, Morgan Stanley reduced their target price on Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Ulta Beauty has a consensus rating of “Hold” and an average target price of $427.13.

Ulta Beauty Price Performance

ULTA stock opened at $370.75 on Wednesday. The business’s 50-day moving average is $376.15 and its two-hundred day moving average is $386.59. The firm has a market capitalization of $17.19 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty, Inc. has a 1 year low of $309.01 and a 1 year high of $529.67.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company earned $8.08 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, analysts expect that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

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.