Ulta Beauty, Inc. (NASDAQ:ULTA) Stake Lowered by Empowered Funds LLC

Empowered Funds LLC reduced its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 32.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,324 shares of the specialty retailer's stock after selling 12,585 shares during the period. Empowered Funds LLC owned about 0.06% of Ulta Beauty worth $10,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULTA. UMB Bank n.a. raised its position in shares of Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 30 shares in the last quarter. LRI Investments LLC bought a new position in Ulta Beauty during the 1st quarter valued at $31,000. Innealta Capital LLC acquired a new position in Ulta Beauty during the 2nd quarter worth $32,000. Paladin Wealth LLC acquired a new position in Ulta Beauty during the 3rd quarter worth $32,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Ulta Beauty in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ULTA shares. Oppenheimer reaffirmed an "outperform" rating and set a $435.00 price target on shares of Ulta Beauty in a research report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on Ulta Beauty from $475.00 to $412.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Evercore ISI lowered their price target on Ulta Beauty from $500.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, August 26th. Piper Sandler upped their price target on Ulta Beauty from $356.00 to $357.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, TD Cowen decreased their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $420.71.

Ulta Beauty Stock Down 4.6 %

Ulta Beauty stock traded down $17.60 during trading hours on Friday, hitting $365.17. 1,440,970 shares of the company traded hands, compared to its average volume of 962,623. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The firm has a market cap of $17.20 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.20 and a beta of 1.33. The firm's 50-day simple moving average is $380.06 and its two-hundred day simple moving average is $379.36.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the business earned $6.02 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Ulta Beauty, Inc. will post 23.07 earnings per share for the current 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.