Bayesian Capital Management LP Purchases Shares of 8,554 Ulta Beauty, Inc. (NASDAQ:ULTA)

Bayesian Capital Management LP acquired a new stake in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,554 shares of the specialty retailer's stock, valued at approximately $3,720,000.

A number of other hedge funds have also recently made changes to their positions in the business. Prestige Wealth Management Group LLC boosted its stake in Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 34 shares during the last quarter. Edge Capital Group LLC bought a new stake in Ulta Beauty during the fourth quarter worth $33,000. Future Financial Wealth Managment LLC purchased a new stake in Ulta Beauty in the 4th quarter valued at $43,000. Ameliora Wealth Management Ltd. bought a new position in Ulta Beauty during the 4th quarter valued at $43,000. Finally, ORG Partners LLC purchased a new position in Ulta Beauty during the 4th quarter worth $57,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

NASDAQ ULTA opened at $395.81 on Friday. Ulta Beauty, Inc. has a 52-week low of $309.01 and a 52-week high of $460.00. The company has a fifty day moving average of $361.20 and a 200-day moving average of $383.45. The company has a market capitalization of $17.87 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.89 and a beta of 1.16.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.13 by $1.33. The firm had revenue of $3.49 billion during 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 company's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $8.08 EPS. As a group, analysts forecast that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.

Insider Buying and Selling at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction dated 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 sale, the insider now directly owns 7,632 shares in the company, valued at $2,817,429.12. This represents a 10.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

ULTA has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Ulta Beauty from $445.00 to $327.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Piper Sandler reduced their target price on Ulta Beauty from $425.00 to $364.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Wells Fargo & Company cut their price objective on Ulta Beauty from $310.00 to $300.00 and set an "underweight" rating on the stock in a research report on Wednesday. TD Cowen raised their target price on Ulta Beauty from $450.00 to $480.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded shares of Ulta Beauty from a "neutral" rating to a "buy" rating and increased their price target for the company from $384.00 to $423.00 in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $427.17.

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.

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