Broadway Wealth Solutions Inc. Makes New Investment in Ulta Beauty, Inc. (NASDAQ:ULTA)

Broadway Wealth Solutions Inc. bought a new stake in Ulta Beauty, Inc. (NASDAQ:ULTA) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 767 shares of the specialty retailer’s stock, valued at approximately $334,000.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ulta Beauty in the 4th quarter valued at $239,432,000. Holocene Advisors LP boosted its holdings in Ulta Beauty by 3,246.2% in the third quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after acquiring an additional 335,914 shares during the last quarter. Atreides Management LP acquired a new stake in Ulta Beauty in the third quarter worth about $73,069,000. Proficio Capital Partners LLC bought a new stake in Ulta Beauty during the 4th quarter worth about $58,074,000. Finally, Victory Capital Management Inc. lifted its position in Ulta Beauty by 364.6% during the 4th quarter. Victory Capital Management Inc. now owns 159,053 shares of the specialty retailer’s stock valued at $69,177,000 after purchasing an additional 124,822 shares during the period. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ULTA has been the subject of a number of analyst reports. Loop Capital lifted their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. StockNews.com upgraded Ulta Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Stifel Nicolaus decreased their target price on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating for the company in a research report on Friday, March 14th. TD Cowen upped their price target on Ulta Beauty from $450.00 to $480.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ulta Beauty from $480.00 to $475.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $427.13.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $370.34 on Friday. Ulta Beauty, Inc. has a 52-week low of $309.01 and a 52-week high of $529.67. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.89 and a beta of 1.34. The company has a 50-day simple moving average of $374.58 and a two-hundred day simple moving average of $386.37.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.47 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the business posted $8.08 earnings per share. On average, sell-side analysts forecast that Ulta Beauty, Inc. will post 23.96 EPS for the current fiscal year.

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.