Brooklyn Investment Group Takes $57,000 Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Brooklyn Investment Group purchased a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 147 shares of the specialty retailer’s stock, valued at approximately $57,000.

A number of other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in 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 acquiring an additional 30 shares during the last quarter. LRI Investments LLC acquired a new stake in Ulta Beauty in the first quarter valued at approximately $31,000. Innealta Capital LLC bought a new stake in shares of Ulta Beauty during the second quarter worth $32,000. Paladin Wealth LLC acquired a new position in shares of Ulta Beauty during the third quarter worth $32,000. Finally, Oakworth Capital Inc. bought a new position in shares of Ulta Beauty in the 2nd quarter valued at $36,000. 90.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group reduced their price objective on Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Telsey Advisory Group restated an “outperform” rating and set a $450.00 price objective on shares of Ulta Beauty in a research report on Wednesday. Piper Sandler boosted 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. TD Cowen reduced their price target on Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $420.71.

Ulta Beauty Stock Performance

ULTA stock opened at $375.25 on Friday. The stock’s 50 day simple moving average is $374.43 and its 200 day simple moving average is $376.67. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The company has a market cap of $17.68 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.33.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $6.02 earnings per share. Equities analysts predict that Ulta Beauty, Inc. will post 23.07 earnings per share for the current year.

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.