GM Advisory Group LLC Cuts Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

GM Advisory Group LLC lessened its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 42.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,008 shares of the specialty retailer’s stock after selling 3,740 shares during the period. GM Advisory Group LLC’s holdings in Ulta Beauty were worth $2,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. increased its stake in shares of Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 45 shares in the last quarter. Westside Investment Management Inc. increased its stake in Ulta Beauty by 151.5% during the 3rd 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. Future Financial Wealth Managment LLC purchased a new stake in Ulta Beauty during the 4th quarter worth approximately $43,000. Ameliora Wealth Management Ltd. purchased a new stake in Ulta Beauty during the 4th quarter worth approximately $43,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Ulta Beauty during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

ULTA opened at $343.83 on Wednesday. The business’s 50 day moving average price is $381.84 and its 200 day moving average price is $386.80. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $535.08. The stock has a market capitalization of $15.94 billion, a PE ratio of 13.76, a P/E/G ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm earned $8.08 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ULTA. Morgan Stanley cut their price objective on Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Piper Sandler cut their price objective on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group cut their price objective on Ulta Beauty from $538.00 to $526.00 and set a “buy” rating for the company in a research note on Friday, March 14th. UBS Group upped their price target on Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, DA Davidson dropped their price target on Ulta Beauty from $510.00 to $415.00 and set a “buy” rating for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ulta Beauty has an average rating of “Hold” and a consensus price target of $427.13.

About Ulta Beauty

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.