Jessup Wealth Management Inc Buys 19,442 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Jessup Wealth Management Inc lifted its stake in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 3,218.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,046 shares of the specialty retailer's stock after purchasing an additional 19,442 shares during the period. Ulta Beauty comprises about 3.7% of Jessup Wealth Management Inc's investment portfolio, making the stock its 6th largest position. Jessup Wealth Management Inc's holdings in Ulta Beauty were worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its holdings 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. grew its holdings in Ulta Beauty by 151.5% during 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 in the last quarter. Future Financial Wealth Managment LLC bought a new position in Ulta Beauty during the 4th quarter worth about $43,000. Ameliora Wealth Management Ltd. bought a new position in Ulta Beauty during the 4th quarter worth about $43,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Ulta Beauty during the third quarter valued at about $41,000. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Ulta Beauty from $500.00 to $538.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Barclays increased their price target on shares of Ulta Beauty from $410.00 to $445.00 and gave the company an "equal weight" rating in a research report on Thursday, January 9th. BMO Capital Markets increased their price target on shares of Ulta Beauty from $385.00 to $420.00 and gave the company a "market perform" rating in a research report on Friday, December 6th. StockNews.com raised shares of Ulta Beauty from a "sell" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Ulta Beauty from $472.00 to $480.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $459.22.

Ulta Beauty Price Performance

ULTA traded down $6.35 during trading on Friday, reaching $360.33. 620,674 shares of the company's stock were exchanged, compared to its average volume of 906,753. Ulta Beauty, Inc. has a 1 year low of $318.17 and a 1 year high of $574.76. The stock has a market capitalization of $16.71 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.28. The company's fifty day simple moving average is $410.13 and its 200-day simple moving average is $386.42.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts' consensus estimates of $4.45 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $5.07 EPS. Equities analysts forecast that Ulta Beauty, Inc. will post 23.96 EPS 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.