Broadway Wealth Solutions Inc. Purchases Shares of 767 Ulta Beauty, Inc. (NASDAQ:ULTA)

Broadway Wealth Solutions Inc. bought a new position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 767 shares of the specialty retailer's stock, valued at approximately $334,000.

Several other hedge funds have also recently bought and sold shares of the business. Prestige Wealth Management Group LLC lifted its stake in shares of Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 34 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 45 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer's stock worth $32,000 after acquiring an additional 50 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Ulta Beauty in the fourth quarter valued at approximately $43,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Ulta Beauty during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ULTA. Stifel Nicolaus dropped their price target on shares of Ulta Beauty from $475.00 to $400.00 and set a "hold" rating on the stock in a research note on Friday, March 14th. Citigroup lowered their target price on Ulta Beauty from $405.00 to $365.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. B. Riley cut their price target on Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. StockNews.com upgraded Ulta Beauty from a "sell" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $500.00 target price on shares of Ulta Beauty in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $427.13.

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Ulta Beauty Stock Up 2.2 %

Ulta Beauty stock traded up $7.76 during mid-day trading on Monday, hitting $367.23. 715,732 shares of the company's stock traded hands, compared to its average volume of 1,060,418. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $529.67. The firm has a 50 day moving average price of $373.67 and a 200 day moving average price of $386.41. The company has a market cap of $17.03 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts' consensus estimates of $7.13 by $1.33. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $8.08 earnings per share. On average, analysts expect that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal 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.