Carnegie Investment Counsel acquired a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 61,958 shares of the specialty retailer's stock, valued at approximately $22,710,000. Carnegie Investment Counsel owned approximately 0.14% of Ulta Beauty as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Ulta Beauty by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,199,935 shares of the specialty retailer's stock worth $520,587,000 after purchasing an additional 11,205 shares in the last quarter. Capital World Investors purchased a new stake in Ulta Beauty in the fourth quarter valued at approximately $430,674,000. Deutsche Bank AG lifted its position in Ulta Beauty by 1.4% during 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 during the last quarter. Northern Trust Corp lifted its position in Ulta Beauty by 14.7% during 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 during the last quarter. Finally, Norges Bank purchased a new position in Ulta Beauty in the 4th quarter worth approximately $239,432,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ULTA shares. Piper Sandler restated a "neutral" rating and set a $437.00 price objective (up previously from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Citigroup boosted their target price on Ulta Beauty from $425.00 to $450.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Oppenheimer increased their price target on shares of Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $520.00 price objective on shares of Ulta Beauty in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $465.04.
Read Our Latest Research Report on Ulta Beauty
Ulta Beauty Stock Up 0.3%
Ulta Beauty stock traded up $1.40 during midday trading on Friday, reaching $514.95. The stock had a trading volume of 466,057 shares, compared to its average volume of 606,426. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 3.11 and a beta of 1.08. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $515.99. The company has a fifty day moving average of $462.62 and a 200 day moving average of $407.32.
Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the business posted $6.47 earnings per share. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts predict that Ulta Beauty Inc. will post 23.96 EPS for the current year.
Ulta Beauty Company Profile
(
Free Report)
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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