Parr Mcknight Wealth Management Group LLC Makes New $1.11 Million Investment in Ulta Beauty, Inc. (NASDAQ:ULTA)

Parr Mcknight Wealth Management Group LLC bought a new position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,544 shares of the specialty retailer's stock, valued at approximately $1,106,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Ulta Beauty by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer's stock valued at $520,587,000 after acquiring an additional 11,205 shares during the last quarter. Capital World Investors purchased a new stake in shares of Ulta Beauty in the fourth quarter valued at $430,674,000. Deutsche Bank AG lifted its holdings in shares of Ulta Beauty by 1.4% in the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock valued at $285,123,000 after purchasing an additional 9,291 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Ulta Beauty by 14.7% in the fourth quarter. Northern Trust Corp now owns 562,155 shares of the specialty retailer's stock valued at $244,498,000 after purchasing an additional 72,004 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ulta Beauty during the fourth quarter worth $239,432,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ULTA shares. JPMorgan Chase & Co. increased their price objective on Ulta Beauty from $475.00 to $477.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Piper Sandler reiterated a "neutral" rating on shares of Ulta Beauty in a report on Thursday, May 15th. Telsey Advisory Group reiterated an "outperform" rating and set a $460.00 price objective on shares of Ulta Beauty in a report on Friday, May 23rd. Barclays cut their price objective on Ulta Beauty from $445.00 to $327.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Finally, B. Riley lowered their target price 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty presently has a consensus rating of "Hold" and an average target price of $424.78.

Ulta Beauty Stock Performance

Shares of NASDAQ:ULTA traded down $4.30 during midday trading on Wednesday, hitting $417.01. The company's stock had a trading volume of 753,960 shares, compared to its average volume of 1,049,066. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.89 and a beta of 1.06. The stock's 50 day simple moving average is $380.28 and its 200 day simple moving average is $386.87. Ulta Beauty, Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $460.00.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business posted $8.08 earnings per share. The firm's revenue was down 1.9% compared to the same quarter last year. As a group, analysts anticipate that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Insider Activity at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the sale, the insider now owns 7,632 shares in the company, valued at approximately $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.