Buckhead Capital Management LLC Raises Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Buckhead Capital Management LLC increased its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,088 shares of the specialty retailer’s stock after purchasing an additional 1,633 shares during the period. Ulta Beauty accounts for about 1.7% of Buckhead Capital Management LLC’s portfolio, making the stock its 19th largest position. Buckhead Capital Management LLC’s holdings in Ulta Beauty were worth $5,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of Ulta Beauty by 180,713.0% during the third quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock worth $481,952,000 after purchasing an additional 1,237,884 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Ulta Beauty during the 3rd quarter valued at approximately $359,480,000. Holocene Advisors LP lifted its stake in shares of Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after purchasing an additional 335,914 shares during the period. Atreides Management LP purchased a new stake in Ulta Beauty during the third quarter worth $73,069,000. Finally, Assenagon Asset Management S.A. grew its position in Ulta Beauty by 258.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 126,190 shares of the specialty retailer’s stock valued at $54,884,000 after buying an additional 90,972 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $360.44 on Friday. Ulta Beauty, Inc. has a one year low of $318.17 and a one year high of $574.76. The stock has a market cap of $16.71 billion, a PE ratio of 14.42, a P/E/G ratio of 0.96 and a beta of 1.28. The stock has a 50 day moving average price of $416.50 and a 200 day moving average price of $386.35.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $5.07 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts predict that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ULTA has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. DA Davidson upped their price target on Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, December 6th. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their target price on Ulta Beauty from $472.00 to $480.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets increased their target price on Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Ulta Beauty presently has an average rating of “Hold” and an average target price of $459.22.

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.