Legacy Wealth Management LLC MS Cuts Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Legacy Wealth Management LLC MS cut its holdings in Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,719 shares of the specialty retailer’s stock after selling 105 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Ulta Beauty were worth $2,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ULTA. UMB Bank n.a. raised its stake in Ulta Beauty by 83.3% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 30 shares during the last quarter. Innealta Capital LLC acquired a new position in Ulta Beauty during the second quarter worth about $32,000. Paladin Wealth LLC acquired a new stake in Ulta Beauty in the 3rd quarter valued at about $32,000. Westside Investment Management Inc. raised its holdings in Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 50 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Ulta Beauty by 118.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 45 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Ulta Beauty Trading Down 0.4 %

NASDAQ:ULTA traded down $1.63 during midday trading on Friday, hitting $422.28. 145,958 shares of the company were exchanged, compared to its average volume of 980,400. The company has a fifty day simple moving average of $377.54 and a 200 day simple moving average of $377.83. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The company has a market capitalization of $19.58 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.42 and a beta of 1.32.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping the consensus estimate of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned $5.07 EPS. Ulta Beauty’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Ulta Beauty, Inc. will post 23.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ULTA shares. Oppenheimer increased their price objective on shares of Ulta Beauty from $435.00 to $505.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of Ulta Beauty from $395.00 to $455.00 and gave the company a “hold” rating in a report on Friday, December 6th. William Blair downgraded shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. UBS Group increased their price target on shares of Ulta Beauty from $470.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets increased their price target on shares of Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $439.30.

Ulta Beauty Company 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.