Brown Capital Management LLC Reduces Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Brown Capital Management LLC reduced its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 62.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,217 shares of the specialty retailer’s stock after selling 2,019 shares during the period. Brown Capital Management LLC’s holdings in Ulta Beauty were worth $474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Investment Consultants LLC acquired a new position in shares of Ulta Beauty during the 3rd quarter worth about $4,480,000. Thompson Siegel & Walmsley LLC purchased a new position in Ulta Beauty in the third quarter valued at approximately $21,476,000. Landscape Capital Management L.L.C. acquired a new stake in Ulta Beauty during the third quarter worth approximately $5,232,000. Aurora Investment Counsel purchased a new stake in shares of Ulta Beauty during the 3rd quarter worth approximately $2,566,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Ulta Beauty by 8.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,411 shares of the specialty retailer’s stock valued at $938,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ULTA shares. William Blair cut shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday. Telsey Advisory Group reissued an “outperform” rating and issued a $450.00 target price on shares of Ulta Beauty in a research report on Thursday, October 17th. Barclays lifted their price target on Ulta Beauty from $328.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Robert W. Baird lowered their target price on shares of Ulta Beauty from $525.00 to $485.00 and set an “outperform” rating on the stock in a research report on Friday, August 23rd. Finally, DA Davidson dropped their price objective on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $420.71.

Ulta Beauty Price Performance

NASDAQ ULTA opened at $343.26 on Thursday. The business has a 50 day moving average price of $378.29 and a 200 day moving average price of $378.08. The company has a market capitalization of $16.17 billion, a P/E ratio of 13.77, a PEG ratio of 1.97 and a beta of 1.33. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76.

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