Norges Bank Acquires New Shares in Ulta Beauty, Inc. (NASDAQ:ULTA)

Norges Bank acquired a new stake in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 550,508 shares of the specialty retailer's stock, valued at approximately $239,432,000. Norges Bank owned about 1.19% of Ulta Beauty at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP increased its position in Ulta Beauty by 3,246.2% during the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer's stock worth $134,737,000 after buying an additional 335,914 shares during the last quarter. Atreides Management LP acquired a new position in shares of Ulta Beauty during the 3rd quarter worth approximately $73,069,000. Proficio Capital Partners LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $58,074,000. Victory Capital Management Inc. raised its stake in Ulta Beauty by 364.6% in the 4th quarter. Victory Capital Management Inc. now owns 159,053 shares of the specialty retailer's stock valued at $69,177,000 after acquiring an additional 124,822 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Ulta Beauty by 258.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 126,190 shares of the specialty retailer's stock valued at $54,884,000 after purchasing an additional 90,972 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ULTA. Telsey Advisory Group reissued an "outperform" rating and issued a $500.00 price objective on shares of Ulta Beauty in a research report on Monday, March 10th. Bank of America lowered their price target on shares of Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group reduced their price objective on Ulta Beauty from $538.00 to $526.00 and set a "buy" rating for the company in a report on Friday, March 14th. Piper Sandler lowered their target price on Ulta Beauty from $425.00 to $364.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, Stifel Nicolaus dropped their price target on Ulta Beauty from $475.00 to $400.00 and set a "hold" rating for the company in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $427.61.

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Ulta Beauty Stock Up 2.0 %

Shares of ULTA traded up $7.37 during midday trading on Tuesday, hitting $373.91. The company's stock had a trading volume of 927,280 shares, compared to its average volume of 1,062,846. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $528.80. The stock has a market capitalization of $17.34 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company's fifty day simple moving average is $371.93 and its two-hundred day simple moving average is $386.33.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.13 by $1.33. The firm had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.08 earnings per share. On average, research analysts predict that Ulta Beauty, Inc. will post 23.96 earnings per share for the current year.

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.