Raymond James & Associates Sells 871 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Raymond James & Associates decreased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.9% during the 3rd quarter, Holdings Channel reports. The fund owned 44,391 shares of the specialty retailer’s stock after selling 871 shares during the quarter. Raymond James & Associates’ holdings in Ulta Beauty were worth $17,273,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ULTA has been the topic of a number of research reports. B. Riley initiated coverage on shares of Ulta Beauty in a research note on Tuesday, September 10th. They issued a “sell” rating and a $300.00 price target on the stock. Loop Capital cut their price target on shares of Ulta Beauty from $520.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Citigroup cut their price target on shares of Ulta Beauty from $375.00 to $345.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company cut their price target on shares of Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, August 30th. Finally, Piper Sandler lifted their price target on shares of Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $420.71.

Ulta Beauty Trading Up 1.7 %

Shares of ULTA opened at $373.30 on Friday. The company has a market cap of $17.59 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 2.10 and a beta of 1.32. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The company’s fifty day simple moving average is $376.26 and its 200 day simple moving average is $384.10.

Ulta Beauty (NASDAQ:ULTA) last issued its 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). Ulta Beauty had a return on equity of 54.02% and a net margin of 10.68%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm posted $6.02 earnings per share. Ulta Beauty’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that Ulta Beauty, Inc. will post 23.07 earnings per share for the current 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.