Eastern Bank Lowers Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Eastern Bank reduced its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,139 shares of the specialty retailer's stock after selling 1,258 shares during the period. Eastern Bank's holdings in Ulta Beauty were worth $495,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Fulcrum Capital LLC boosted its holdings in Ulta Beauty by 2.5% in the fourth quarter. Fulcrum Capital LLC now owns 18,150 shares of the specialty retailer's stock worth $7,894,000 after acquiring an additional 451 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Ulta Beauty during the fourth quarter worth about $43,000. Brookstone Capital Management acquired a new stake in shares of Ulta Beauty in the 4th quarter worth about $348,000. Czech National Bank lifted its position in Ulta Beauty by 5.1% in the 4th quarter. Czech National Bank now owns 10,216 shares of the specialty retailer's stock valued at $4,443,000 after acquiring an additional 496 shares in the last quarter. Finally, HBW Advisory Services LLC boosted its stake in Ulta Beauty by 11.3% during the 4th quarter. HBW Advisory Services LLC now owns 6,478 shares of the specialty retailer's stock valued at $2,817,000 after purchasing an additional 658 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded up $0.12 during trading on Tuesday, hitting $404.06. 688,052 shares of the company were exchanged, compared to its average volume of 868,881. The company has a market cap of $18.74 billion, a PE ratio of 16.17, a P/E/G ratio of 2.38 and a beta of 1.28. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76. The stock has a 50 day moving average of $402.84 and a 200 day moving average of $384.25.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $5.07 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that Ulta Beauty, Inc. will post 23.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on ULTA. DA Davidson increased their price objective on Ulta Beauty from $435.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on Ulta Beauty from $390.00 to $394.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Oppenheimer upped their target price on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Loop Capital raised their price target on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Citigroup upped their price objective on shares of Ulta Beauty from $450.00 to $457.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Ulta Beauty currently has an average rating of "Hold" and a consensus price target of $460.30.

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.