Ulta Beauty, Inc. (NASDAQ:ULTA) Position Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,769 shares of the specialty retailer’s stock after selling 570 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ulta Beauty were worth $12,513,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Ulta Beauty by 22.4% during the third quarter. Blue Trust Inc. now owns 240 shares of the specialty retailer’s stock valued at $93,000 after purchasing an additional 44 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ulta Beauty by 63.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,468 shares of the specialty retailer’s stock valued at $2,128,000 after buying an additional 2,114 shares during the period. Private Advisor Group LLC raised its position in shares of Ulta Beauty by 14.5% during the 3rd quarter. Private Advisor Group LLC now owns 11,473 shares of the specialty retailer’s stock worth $4,464,000 after buying an additional 1,451 shares in the last quarter. Global Trust Asset Management LLC lifted its stake in shares of Ulta Beauty by 39.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 141 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 40 shares during the period. Finally, Convergence Financial LLC boosted its holdings in shares of Ulta Beauty by 55.1% in the third quarter. Convergence Financial LLC now owns 2,755 shares of the specialty retailer’s stock valued at $1,072,000 after acquiring an additional 979 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Trading Down 1.4 %

Shares of ULTA stock opened at $361.54 on Friday. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.89 and a beta of 1.28. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The stock’s fifty day simple moving average is $408.88 and its 200-day simple moving average is $386.66.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ULTA shares. Bank of America boosted their target price on Ulta Beauty from $460.00 to $475.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. William Blair cut Ulta Beauty from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. TD Cowen boosted their price target on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group raised their price objective on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Ulta Beauty presently has an average rating of “Hold” and an average price target of $459.22.

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.