Parr Mcknight Wealth Management Group LLC Increases Stock Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Parr Mcknight Wealth Management Group LLC raised its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 40.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,580 shares of the specialty retailer's stock after buying an additional 1,036 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Ulta Beauty were worth $1,312,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ulta Beauty by 17.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after purchasing an additional 924 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of Ulta Beauty by 14.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after purchasing an additional 152 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Ulta Beauty by 128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after purchasing an additional 415 shares during the period. Alliancebernstein L.P. lifted its position in shares of Ulta Beauty by 26.4% in the 4th quarter. Alliancebernstein L.P. now owns 73,137 shares of the specialty retailer's stock worth $31,809,000 after purchasing an additional 15,258 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Ulta Beauty by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer's stock worth $444,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Ulta Beauty Stock Up 0.1%

Shares of ULTA stock opened at $476.14 on Friday. The company has a 50 day moving average price of $444.19 and a 200-day moving average price of $403.43. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $498.52. The firm has a market capitalization of $21.40 billion, a PE ratio of 18.60, a P/E/G ratio of 2.88 and a beta of 1.08.

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

Analyst Ratings Changes

Several research firms have recently commented on ULTA. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $520.00 target price on shares of Ulta Beauty in a research report on Thursday, June 26th. Raymond James Financial reaffirmed an "outperform" rating and issued a $500.00 target price (up from $450.00) on shares of Ulta Beauty in a research report on Friday, May 30th. Bank of America lowered their price target on shares of Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. B. Riley lowered their price target on shares of Ulta Beauty from $430.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Finally, Argus cut shares of Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $465.04.

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.

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