Hardy Reed LLC Purchases Shares of 699 Ulta Beauty, Inc. (NASDAQ:ULTA)

Hardy Reed LLC acquired a new stake in Ulta Beauty, Inc. (NASDAQ:ULTA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 699 shares of the specialty retailer’s stock, valued at approximately $272,000.

A number of other institutional investors have also modified their holdings of the company. Cadence Bank boosted its stake in shares of Ulta Beauty by 24.4% in the third quarter. Cadence Bank now owns 1,553 shares of the specialty retailer’s stock valued at $604,000 after purchasing an additional 305 shares during the period. Brooklyn Investment Group acquired a new stake in Ulta Beauty during the 3rd quarter valued at approximately $57,000. The Manufacturers Life Insurance Company increased its holdings in Ulta Beauty by 0.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 96,492 shares of the specialty retailer’s stock worth $37,547,000 after purchasing an additional 367 shares during the last quarter. Truvestments Capital LLC raised its position in shares of Ulta Beauty by 13.6% in the 3rd quarter. Truvestments Capital LLC now owns 1,421 shares of the specialty retailer’s stock valued at $553,000 after purchasing an additional 170 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ulta Beauty during the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

ULTA opened at $360.47 on Wednesday. The company has a market cap of $16.99 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. The stock has a 50-day moving average of $375.54 and a 200-day moving average of $376.69. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly 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 company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business earned $6.02 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts predict that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

Analyst Ratings Changes

ULTA has been the subject of several research reports. Loop Capital decreased their price target on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. TD Cowen cut their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Deutsche Bank Aktiengesellschaft cut their target price on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, B. Riley began coverage on shares of Ulta Beauty in a report on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $420.71.

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.