Ulta Beauty Inc. (NASDAQ:ULTA) Shares Purchased by Forte Capital LLC ADV

Forte Capital LLC ADV raised its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 29,655 shares of the specialty retailer’s stock after acquiring an additional 304 shares during the period. Ulta Beauty accounts for 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 $10,870,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ULTA. Prestige Wealth Management Group LLC increased its holdings in shares of Ulta Beauty by 121.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 34 shares in the last quarter. American National Bank & Trust purchased a new position in Ulta Beauty during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Ulta Beauty during the first quarter worth about $31,000. Rakuten Securities Inc. grew its holdings in shares of Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after buying an additional 59 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock worth $35,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Price Performance

ULTA stock opened at $485.08 on Thursday. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $498.52. The firm has a fifty day moving average price of $451.10 and a two-hundred day moving average price of $404.51. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.87 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the company posted $6.47 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ULTA shares. Canaccord Genuity Group raised their target price on shares of Ulta Beauty from $510.00 to $542.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Wells Fargo & Company raised their target price on shares of Ulta Beauty from $315.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday, May 30th. Truist Financial lifted their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. The Goldman Sachs Group raised shares of Ulta Beauty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $384.00 to $423.00 in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ulta Beauty from $477.00 to $525.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Ulta Beauty has an average rating of “Moderate Buy” and a consensus price target of $465.04.

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.