Eagle Ridge Investment Management Grows Stock Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Eagle Ridge Investment Management increased its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,345 shares of the specialty retailer’s stock after buying an additional 608 shares during the period. Ulta Beauty accounts for about 2.1% of Eagle Ridge Investment Management’s holdings, making the stock its 19th largest holding. Eagle Ridge Investment Management owned 0.13% of Ulta Beauty worth $23,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Ulta Beauty during the first quarter valued at approximately $31,000. UMB Bank n.a. increased its position in shares of Ulta Beauty by 83.3% during the second quarter. UMB Bank n.a. now owns 66 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 30 shares in the last quarter. Innealta Capital LLC purchased a new position in Ulta Beauty in the 2nd quarter worth approximately $32,000. Finally, Paladin Wealth LLC bought a new position in Ulta Beauty in the 3rd quarter valued at approximately $32,000. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ULTA. The Goldman Sachs Group reduced their target price on Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Wells Fargo & Company reduced their price objective on Ulta Beauty from $325.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, August 30th. UBS Group lowered their target price on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Raymond James reduced their price target on shares of Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Piper Sandler boosted their price objective on shares of Ulta Beauty from $356.00 to $357.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of “Hold” and an average price target of $420.71.

Ulta Beauty Trading Up 0.0 %

NASDAQ ULTA opened at $367.18 on Friday. Ulta Beauty, Inc. has a 12 month low of $318.17 and a 12 month high of $574.76. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.10 and a beta of 1.32. The company’s 50 day moving average is $376.31 and its two-hundred day moving average is $384.77.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 29th. The specialty retailer reported $5.30 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.17). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.61 billion. Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.02 earnings per share. Sell-side analysts forecast that Ulta Beauty, Inc. will post 23.07 EPS 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.