Burney Co. Has $9.90 Million Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

Burney Co. lifted its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 1,005.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,006 shares of the specialty retailer's stock after buying an additional 24,564 shares during the period. Burney Co. owned about 0.06% of Ulta Beauty worth $9,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of Ulta Beauty by 1.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,857 shares of the specialty retailer's stock valued at $4,722,000 after acquiring an additional 159 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Ulta Beauty by 47.9% in the fourth quarter. TD Private Client Wealth LLC now owns 173 shares of the specialty retailer's stock valued at $75,000 after acquiring an additional 56 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Ulta Beauty by 44.3% in the fourth quarter. Mizuho Securities USA LLC now owns 4,465 shares of the specialty retailer's stock valued at $1,942,000 after acquiring an additional 1,371 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Ulta Beauty by 7.5% in the fourth quarter. American Century Companies Inc. now owns 85,334 shares of the specialty retailer's stock valued at $37,114,000 after acquiring an additional 5,938 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Ulta Beauty in the fourth quarter valued at approximately $7,270,000. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ULTA. Raymond James Financial reissued an "outperform" rating and issued a $500.00 price target (up previously from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. The Goldman Sachs Group raised shares of Ulta Beauty from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $384.00 to $423.00 in a report on Tuesday, April 1st. Piper Sandler reaffirmed a "neutral" rating and set a $437.00 target price (up previously from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Canaccord Genuity Group lifted their target price on shares of Ulta Beauty from $510.00 to $542.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Loop Capital reaffirmed a "hold" rating and set a $510.00 target price on shares of Ulta Beauty in a report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $465.04.

Ulta Beauty Trading Up 0.3%

Shares of ULTA traded up $1.40 during mid-day trading on Friday, reaching $514.95. The company's stock had a trading volume of 464,941 shares, compared to its average volume of 911,960. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $515.99. The stock has a market cap of $23.15 billion, a P/E ratio of 20.12, a PEG ratio of 3.08 and a beta of 1.08. The business has a 50-day simple moving average of $462.62 and a two-hundred day simple moving average of $407.32.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same period last year, the firm posted $6.47 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. Research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current year.

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.