Hedeker Wealth LLC Grows Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Hedeker Wealth LLC increased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,010 shares of the specialty retailer’s stock after buying an additional 38 shares during the quarter. Hedeker Wealth LLC’s holdings in Ulta Beauty were worth $3,049,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ULTA. Paladin Wealth LLC purchased a new position in Ulta Beauty in the third quarter valued at approximately $32,000. Sunbelt Securities Inc. increased its stake in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 45 shares during the last quarter. Westside Investment Management Inc. increased its stake in Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Ulta Beauty in the third quarter valued at approximately $41,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Ulta Beauty in the fourth quarter valued at approximately $43,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ULTA. JPMorgan Chase & Co. increased their price target on shares of Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their target price on shares of Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 7th. Oppenheimer raised their target price on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley upgraded shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $430.00 to $500.00 in a research report on Tuesday, January 21st. Finally, DA Davidson raised their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, twelve 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 currently has an average rating of “Hold” and a consensus target price of $459.22.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $401.60 on Friday. The firm has a market capitalization of $18.62 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.98 and a beta of 1.28. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76. The business’s 50-day simple moving average is $417.52 and its 200-day simple moving average is $386.23.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 EPS. On average, equities research analysts expect that Ulta Beauty, Inc. will post 23.96 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.