Fortem Financial Group LLC Takes Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Fortem Financial Group LLC bought a new position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 960 shares of the specialty retailer's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. Prestige Wealth Management Group LLC lifted its holdings in shares of Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 34 shares during the period. American National Bank & Trust bought a new position in shares of Ulta Beauty during the first quarter valued at $29,000. Wayfinding Financial LLC bought a new position in shares of Ulta Beauty during the first quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% during the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after acquiring an additional 59 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% during the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 40 shares during the period. 90.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ULTA shares. Argus cut Ulta Beauty from a "buy" rating to a "hold" rating in a report on Monday, April 14th. UBS Group raised their target price on Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Loop Capital restated a "buy" rating and issued a $510.00 target price (up from $480.00) on shares of Ulta Beauty in a research note on Monday, June 16th. Barclays raised their target price on Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group upgraded Ulta Beauty from a "neutral" rating to a "buy" rating and raised their target price for the company from $384.00 to $423.00 in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Ulta Beauty currently has an average rating of "Moderate Buy" and an average target price of $465.04.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock traded up $0.70 during trading on Friday, hitting $476.84. 474,112 shares of the company were exchanged, compared to its average volume of 1,044,466. The firm has a market capitalization of $21.43 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. Ulta Beauty Inc. has a 1-year low of $309.01 and a 1-year high of $498.52. The firm's fifty day moving average price is $445.81 and its 200 day moving average price is $403.50.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.45%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.47 EPS. As a group, equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Ulta Beauty 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.