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

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

A number of other hedge funds also recently made changes to their positions in ULTA. Prestige Wealth Management Group LLC lifted its holdings in shares of Ulta Beauty by 121.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 34 shares during the last quarter. Edge Capital Group LLC purchased a new position in Ulta Beauty in the 4th quarter worth $33,000. Ameliora Wealth Management Ltd. purchased a new position in Ulta Beauty in the 4th quarter worth $43,000. Colonial Trust Co SC raised its position in Ulta Beauty by 36.9% in the 4th quarter. Colonial Trust Co SC now owns 115 shares of the specialty retailer's stock worth $50,000 after purchasing an additional 31 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new position in Ulta Beauty in the 4th quarter worth $53,000. 90.39% of the stock is owned by institutional investors.

Insider Activity at Ulta Beauty

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total transaction of $332,982.32. Following the transaction, the insider now owns 7,632 shares in the company, valued at $2,817,429.12. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Ulta Beauty from $475.00 to $400.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Morgan Stanley decreased their price objective on shares of Ulta Beauty from $500.00 to $460.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company boosted their price objective on shares of Ulta Beauty from $300.00 to $315.00 and gave the company an "underweight" rating in a research report on Wednesday, May 14th. DA Davidson restated a "buy" rating and issued a $415.00 price objective on shares of Ulta Beauty in a research report on Wednesday, April 16th. Finally, Argus cut shares of Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $424.78.

Ulta Beauty Stock Up 3.5%

Shares of NASDAQ ULTA traded up $14.27 during midday trading on Tuesday, hitting $421.31. The stock had a trading volume of 944,850 shares, compared to its average volume of 1,050,245. The business's 50 day moving average is $378.68 and its 200-day moving average is $386.63. The company has a market cap of $19.02 billion, a P/E ratio of 16.86, a PEG ratio of 0.89 and a beta of 1.06. Ulta Beauty, Inc. has a 52 week low of $309.01 and a 52 week high of $460.00.

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