First Trust Advisors LP Sells 2,843 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

First Trust Advisors LP cut its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA – Get Rating) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,932 shares of the specialty retailer’s stock after selling 2,843 shares during the quarter. First Trust Advisors LP’s holdings in Ulta Beauty were worth $12,410,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CI Investments Inc. grew its stake in shares of Ulta Beauty by 1,016.7% during the 3rd quarter. CI Investments Inc. now owns 67 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Ulta Beauty by 59.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 70 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 26 shares during the period. Global Trust Asset Management LLC purchased a new position in Ulta Beauty in the 3rd quarter worth approximately $30,000. AllSquare Wealth Management LLC lifted its holdings in Ulta Beauty by 188.5% in the 3rd quarter. AllSquare Wealth Management LLC now owns 75 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 49 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Ulta Beauty by 76.1% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 81 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 35 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ULTA has been the topic of a number of research analyst reports. Raymond James boosted their price target on Ulta Beauty from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 16th. Oppenheimer boosted their price target on Ulta Beauty from $535.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Argus boosted their price target on Ulta Beauty from $455.00 to $530.00 in a report on Thursday, January 5th. Loop Capital boosted their price target on Ulta Beauty from $500.00 to $520.00 in a report on Friday. Finally, Credit Suisse Group upped their price objective on Ulta Beauty from $535.00 to $580.00 in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $554.00.

Ulta Beauty Stock Performance

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NASDAQ ULTA opened at $521.18 on Friday. The company has a market cap of $26.52 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.56 and a beta of 1.30. The business’s 50 day moving average price is $510.17 and its 200-day moving average price is $456.58. Ulta Beauty, Inc. has a fifty-two week low of $330.80 and a fifty-two week high of $537.52.

Ulta Beauty (NASDAQ:ULTA – Get Rating) last released its earnings results on Thursday, March 9th. The specialty retailer reported $6.68 earnings per share for the quarter, beating the consensus estimate of $5.53 by $1.15. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.99 billion. Ulta Beauty had a return on equity of 68.55% and a net margin of 12.17%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.41 EPS. As a group, equities analysts predict that Ulta Beauty, Inc. will post 25.23 EPS for the current year.

About Ulta Beauty

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Ulta Beauty, Inc engages in the retail of beauty products. The company has one reportable segment, which includes retail stores, salon services, and e-commerce. Its products include makeup, skin care, tools and brushes, fragrance, and bath and body. Ulta was founded on January 9, 1990, and is headquartered in Bolingbrook, IL.