Ulta Beauty, Inc. (NASDAQ:ULTA) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC decreased its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 62.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,217 shares of the specialty retailer’s stock after selling 2,019 shares during the quarter. Brown Capital Management LLC’s holdings in Ulta Beauty were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC purchased a new position in Ulta Beauty during the first quarter worth about $31,000. UMB Bank n.a. lifted its holdings in shares of Ulta Beauty by 83.3% during the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 30 shares during the period. Innealta Capital LLC purchased a new position in shares of Ulta Beauty during the 2nd quarter worth about $32,000. Paladin Wealth LLC acquired a new stake in shares of Ulta Beauty in the third quarter worth approximately $32,000. Finally, Crewe Advisors LLC purchased a new stake in Ulta Beauty in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ULTA. JPMorgan Chase & Co. increased their target price on Ulta Beauty from $450.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler lifted their price objective on Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. B. Riley assumed coverage on shares of Ulta Beauty in a research report on Tuesday, September 10th. They set a “sell” rating and a $300.00 target price for the company. BMO Capital Markets set a $385.00 price target on shares of Ulta Beauty in a research report on Thursday, October 17th. Finally, Citigroup dropped their price objective on shares of Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $420.71.

Ulta Beauty Stock Up 0.3 %

Shares of NASDAQ ULTA opened at $343.26 on Thursday. The stock has a market capitalization of $16.17 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.97 and a beta of 1.33. The firm’s 50-day moving average price is $378.29 and its two-hundred day moving average price is $378.08. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76.

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