Forte Capital LLC ADV Sells 967 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Forte Capital LLC ADV cut its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 28,842 shares of the specialty retailer’s stock after selling 967 shares during the period. Ulta Beauty comprises approximately 1.3% of Forte Capital LLC ADV’s holdings, making the stock its 21st biggest position. Forte Capital LLC ADV’s holdings in Ulta Beauty were worth $11,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meeder Advisory Services Inc. raised its holdings in shares of Ulta Beauty by 5.8% in the first quarter. Meeder Advisory Services Inc. now owns 478 shares of the specialty retailer’s stock valued at $250,000 after buying an additional 26 shares during the last quarter. Sage Capital Advisors llc raised its holdings in shares of Ulta Beauty by 5.4% in the second quarter. Sage Capital Advisors llc now owns 525 shares of the specialty retailer’s stock valued at $203,000 after buying an additional 27 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Ulta Beauty by 4.7% in the third quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 28 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Ulta Beauty by 83.3% in the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 30 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Ulta Beauty by 5.0% in the second quarter. AdvisorNet Financial Inc now owns 695 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 33 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group lowered their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on Ulta Beauty from $450.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Raymond James lowered their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Bank of America lowered their price objective on Ulta Beauty from $425.00 to $380.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Finally, Piper Sandler lifted their price objective on Ulta Beauty from $356.00 to $357.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $420.71.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $387.53 on Thursday. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.21 and a beta of 1.33. The stock’s 50 day moving average price is $377.14 and its two-hundred day moving average price is $380.63. Ulta Beauty, Inc. has a 52 week low of $318.17 and a 52 week high of $574.76.

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