Valley Wealth Managers Inc. Increases Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Valley Wealth Managers Inc. boosted its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 67.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,061 shares of the specialty retailer’s stock after acquiring an additional 427 shares during the period. Valley Wealth Managers Inc.’s holdings in Ulta Beauty were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ULTA. UMB Bank n.a. boosted its stake in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares during the last quarter. LRI Investments LLC acquired a new stake in Ulta Beauty during the first quarter worth approximately $31,000. Innealta Capital LLC purchased a new stake in shares of Ulta Beauty in the second quarter valued at $32,000. Paladin Wealth LLC purchased a new stake in shares of Ulta Beauty in the third quarter valued at $32,000. Finally, Oakworth Capital Inc. acquired a new stake in Ulta Beauty in the 2nd quarter worth about $36,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ULTA. JPMorgan Chase & Co. boosted their price target on Ulta Beauty from $450.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Canaccord Genuity Group dropped their price objective on Ulta Beauty from $522.00 to $500.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Ulta Beauty from $426.00 to $424.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. TD Cowen dropped their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of Ulta Beauty from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $420.71.

Ulta Beauty Stock Down 4.6 %

ULTA opened at $365.17 on Friday. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The firm has a market cap of $17.21 billion, a PE ratio of 14.65, a P/E/G ratio of 2.20 and a beta of 1.33. The business has a fifty day simple moving average of $380.06 and a 200-day simple moving average of $379.36.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.02 EPS. On average, equities research analysts anticipate that Ulta Beauty, Inc. will post 23.07 EPS for the current fiscal 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.