KLP Kapitalforvaltning AS Makes New Investment in Ulta Beauty, Inc. (NASDAQ:ULTA)

KLP Kapitalforvaltning AS purchased a new stake in Ulta Beauty, Inc. (NASDAQ:ULTA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,716 shares of the specialty retailer’s stock, valued at approximately $7,270,000.

Other large investors also recently made changes to their positions in the company. Sunbelt Securities Inc. boosted its stake in Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 shares during the period. Westside Investment Management Inc. boosted its position in shares of Ulta Beauty by 151.5% during the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after buying an additional 50 shares during the period. Edge Capital Group LLC bought a new position in shares of Ulta Beauty during the fourth quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Ulta Beauty in the 3rd quarter valued at approximately $41,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Ulta Beauty in the 4th quarter valued at approximately $43,000. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Up 4.4 %

Shares of NASDAQ:ULTA opened at $366.16 on Tuesday. The stock has a market cap of $16.98 billion, a PE ratio of 14.65, a P/E/G ratio of 0.89 and a beta of 1.34. Ulta Beauty, Inc. has a 12-month low of $309.01 and a 12-month high of $529.67. The business has a 50 day moving average of $376.82 and a 200-day moving average of $386.57.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm posted $8.08 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts expect that Ulta Beauty, Inc. will post 23.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $500.00 price objective on shares of Ulta Beauty in a report on Monday, March 10th. Morgan Stanley lowered their price target on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Citigroup lowered their target price on Ulta Beauty from $405.00 to $365.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler reduced their price target on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and a consensus price target of $427.13.

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.