Palouse Capital Management Inc. Has $1.15 Million Stock Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Palouse Capital Management Inc. cut its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,948 shares of the specialty retailer’s stock after selling 50 shares during the period. Palouse Capital Management Inc.’s holdings in Ulta Beauty were worth $1,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC raised its stake in shares of Ulta Beauty by 87.3% in the second quarter. Hsbc Holdings PLC now owns 337,882 shares of the specialty retailer’s stock worth $130,380,000 after purchasing an additional 157,497 shares during the last quarter. Boston Partners raised its holdings in shares of Ulta Beauty by 47.7% in the first quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock valued at $246,862,000 after purchasing an additional 153,727 shares during the last quarter. TD Asset Management Inc boosted its holdings in Ulta Beauty by 33.6% during the first quarter. TD Asset Management Inc now owns 544,072 shares of the specialty retailer’s stock worth $284,484,000 after purchasing an additional 136,725 shares during the last quarter. Swedbank AB increased its stake in Ulta Beauty by 107.0% in the 2nd quarter. Swedbank AB now owns 240,191 shares of the specialty retailer’s stock valued at $92,683,000 after buying an additional 124,164 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Ulta Beauty by 26.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 356,128 shares of the specialty retailer’s stock worth $137,419,000 after buying an additional 74,319 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James cut their price objective on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Robert W. Baird decreased their price target on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Bank of America decreased their target price 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. Barclays increased their target price on shares of Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty presently has a consensus rating of “Hold” and an average target price of $420.71.

Ulta Beauty Price Performance

ULTA traded down $0.11 during midday trading on Monday, reaching $368.81. 813,395 shares of the company’s stock traded hands, compared to its average volume of 970,975. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.12 and a beta of 1.32. Ulta Beauty, Inc. has a 52 week low of $318.17 and a 52 week high of $574.76. The firm has a fifty day moving average of $373.91 and a two-hundred day moving average of $386.02.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share 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 during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned $6.02 EPS. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts forecast that Ulta Beauty, Inc. will post 23.06 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.