Ulta Beauty, Inc. (NASDAQ:ULTA) Shares Purchased by Jessup Wealth Management Inc

Jessup Wealth Management Inc raised its position in Ulta Beauty, Inc. (NASDAQ:ULTA) by 3,218.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,046 shares of the specialty retailer’s stock after purchasing an additional 19,442 shares during the quarter. Ulta Beauty comprises 3.7% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 6th biggest position. Jessup Wealth Management Inc’s holdings in Ulta Beauty were worth $8,719,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Ulta Beauty by 180,713.0% during the 3rd 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 last quarter. Ontario Teachers Pension Plan Board purchased a new position in Ulta Beauty during the third quarter worth about $359,480,000. Holocene Advisors LP boosted its stake in Ulta Beauty by 3,246.2% during the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock worth $134,737,000 after buying an additional 335,914 shares during the period. Atreides Management LP acquired a new stake in shares of Ulta Beauty during the third quarter valued at about $73,069,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Ulta Beauty by 258.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 126,190 shares of the specialty retailer’s stock valued at $54,884,000 after acquiring an additional 90,972 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Down 2.4 %

Shares of ULTA opened at $359.96 on Thursday. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. Ulta Beauty, Inc. has a 52-week low of $318.17 and a 52-week high of $574.76. The stock has a 50 day moving average price of $412.67 and a 200 day moving average price of $386.75.

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, beating 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 business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $5.07 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Ulta Beauty, Inc. will post 23.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ULTA. TD Cowen lifted their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Piper Sandler boosted their price objective on Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Morgan Stanley upgraded Ulta Beauty from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $430.00 to $500.00 in a report on Tuesday, January 21st. Stifel Nicolaus boosted their price target on shares of Ulta Beauty from $455.00 to $475.00 and gave the stock a “hold” rating in a research note on Tuesday, January 7th. Finally, B. Riley raised shares of Ulta Beauty from a “sell” rating to a “neutral” rating and raised their price objective for the company from $330.00 to $430.00 in a research note on Tuesday, January 7th. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $459.22.

Ulta Beauty 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.