HB Wealth Management LLC Boosts Stock Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

HB Wealth Management LLC boosted its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 46.0% during the first quarter, HoldingsChannel.com reports. The firm owned 1,031 shares of the specialty retailer’s stock after acquiring an additional 325 shares during the period. HB Wealth Management LLC’s holdings in Ulta Beauty were worth $378,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. American National Bank & Trust acquired a new position in Ulta Beauty in the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new position in Ulta Beauty in the 1st quarter worth about $31,000. Rakuten Securities Inc. grew its position in Ulta Beauty by 218.5% in the 1st quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 59 shares during the last quarter. North Star Investment Management Corp. grew its position in Ulta Beauty by 71.4% in the 1st quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 40 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in Ulta Beauty in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $507.73 on Friday. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $523.68. The company’s 50 day simple moving average is $475.19 and its 200 day simple moving average is $411.48. The firm has a market capitalization of $22.82 billion, a P/E ratio of 19.83, a P/E/G ratio of 3.12 and a beta of 1.08.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the business posted $6.47 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Ulta Beauty Inc. will post 23.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ULTA. Canaccord Genuity Group upped their target price on shares of Ulta Beauty from $542.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group upped their price target on shares of Ulta Beauty from $490.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Evercore ISI upped their price target on shares of Ulta Beauty from $465.00 to $490.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Morgan Stanley increased 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. Finally, Truist Financial upped 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $469.09.

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.