Groesbeck Investment Management Corp NJ Cuts Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Groesbeck Investment Management Corp NJ reduced its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 18.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,205 shares of the specialty retailer’s stock after selling 275 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Ulta Beauty were worth $524,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULTA. Farther Finance Advisors LLC boosted its position in Ulta Beauty by 4.7% during the third quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock worth $244,000 after purchasing an additional 28 shares during the period. Stonegate Investment Group LLC boosted its position in Ulta Beauty by 0.5% during the fourth quarter. Stonegate Investment Group LLC now owns 6,623 shares of the specialty retailer’s stock worth $2,881,000 after purchasing an additional 34 shares during the period. Resonant Capital Advisors LLC boosted its position in Ulta Beauty by 2.2% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,576 shares of the specialty retailer’s stock worth $685,000 after purchasing an additional 34 shares during the period. Clear Creek Financial Management LLC boosted its position in Ulta Beauty by 4.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 832 shares of the specialty retailer’s stock worth $362,000 after purchasing an additional 35 shares during the period. Finally, Global Trust Asset Management LLC boosted its position in Ulta Beauty by 39.6% during the third quarter. Global Trust Asset Management LLC now owns 141 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 40 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Stock Performance

ULTA stock opened at $409.19 on Wednesday. The company has a market capitalization of $18.97 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Ulta Beauty, Inc. has a one year low of $318.17 and a one year high of $574.76. The company’s 50 day moving average price is $415.83 and its two-hundred day moving average price is $385.93.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $5.07 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts predict that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ULTA shares. Stifel Nicolaus increased their target price on shares of Ulta Beauty from $455.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. B. Riley raised shares of Ulta Beauty from a “sell” rating to a “neutral” rating and increased their price target for the stock from $330.00 to $430.00 in a report on Tuesday, January 7th. Bank of America increased their price target on shares of Ulta Beauty from $460.00 to $475.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Citigroup increased their price target on shares of Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley raised shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $430.00 to $500.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $459.22.

Ulta Beauty 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.