Burney Co. Purchases 24,564 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Burney Co. raised its position in Ulta Beauty Inc. (NASDAQ:ULTA) by 1,005.9% in the first quarter, HoldingsChannel.com reports. The fund owned 27,006 shares of the specialty retailer’s stock after purchasing an additional 24,564 shares during the quarter. Burney Co.’s holdings in Ulta Beauty were worth $9,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Capital World Investors purchased a new stake in Ulta Beauty during the 4th quarter valued at $430,674,000. Norges Bank bought a new stake in Ulta Beauty during the 4th quarter valued at about $239,432,000. Marshall Wace LLP grew its stake in shares of Ulta Beauty by 10,336.7% in the fourth quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer’s stock worth $199,681,000 after acquiring an additional 454,711 shares during the period. GAMMA Investing LLC grew its stake in shares of Ulta Beauty by 38,770.6% in the first quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer’s stock worth $162,565,000 after acquiring an additional 442,372 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ulta Beauty during the fourth quarter valued at approximately $73,780,000. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ULTA has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. UBS Group increased their price objective on Ulta Beauty from $490.00 to $525.00 and gave the company a “buy” rating in a report on Friday, May 30th. Loop Capital reissued a “buy” rating and set a $510.00 price target (up from $480.00) on shares of Ulta Beauty in a research report on Monday, June 16th. Robert W. Baird lifted their price target on shares of Ulta Beauty from $440.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Finally, Oppenheimer lifted their price target on shares of Ulta Beauty from $465.00 to $510.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty currently has an average rating of “Moderate Buy” and an average price target of $465.04.

Ulta Beauty Stock Performance

Ulta Beauty stock opened at $502.74 on Wednesday. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $505.00. The firm has a 50 day moving average price of $455.14 and a 200 day moving average price of $404.92. The company has a market cap of $22.60 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 3.01 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.97. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.47 earnings per share. Sell-side analysts predict that Ulta Beauty Inc. will post 23.96 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.