Meeder Asset Management Inc. Raises Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)

Meeder Asset Management Inc. boosted its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 3,453.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,386 shares of the specialty retailer's stock after purchasing an additional 1,347 shares during the period. Meeder Asset Management Inc.'s holdings in Ulta Beauty were worth $603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prestige Wealth Management Group LLC grew its stake in Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 34 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Ulta Beauty by 118.4% in 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 during the last quarter. Westside Investment Management Inc. increased 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 valued at $32,000 after purchasing an additional 50 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Ulta Beauty during the fourth quarter valued at approximately $43,000. Finally, Ameliora Wealth Management Ltd. bought a new position in shares of Ulta Beauty in the 4th quarter worth approximately $43,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup lowered their price target on Ulta Beauty from $405.00 to $365.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. TD Cowen lifted their price target on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a "hold" rating in a report on Wednesday, January 8th. B. Riley reduced their price objective on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Ulta Beauty from $480.00 to $475.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler decreased their price objective on Ulta Beauty from $425.00 to $364.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $427.61.

Ulta Beauty Trading Up 2.3 %

Shares of NASDAQ:ULTA traded up $8.60 on Wednesday, hitting $382.51. The company had a trading volume of 797,100 shares, compared to its average volume of 1,063,608. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty, Inc. has a 1-year low of $309.01 and a 1-year high of $474.12. The stock has a 50 day moving average price of $371.22 and a 200 day moving average price of $386.30.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, topping the consensus estimate of $7.13 by $1.33. The company 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 quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $8.08 earnings per share. Sell-side analysts anticipate that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total transaction of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

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.