Kingsview Wealth Management LLC Reduces Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Kingsview Wealth Management LLC cut its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,169 shares of the specialty retailer’s stock after selling 189 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ulta Beauty were worth $1,378,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Paladin Wealth LLC acquired a new position in Ulta Beauty during the third quarter valued at $32,000. Sunbelt Securities Inc. raised its position in shares of Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 45 shares during the period. Westside Investment Management Inc. raised its position in shares of Ulta Beauty by 151.5% in the third quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 50 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Ulta Beauty in the third quarter worth about $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth about $43,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Stock Down 0.5 %

Shares of NASDAQ:ULTA opened at $374.53 on Wednesday. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.96 and a beta of 1.28. The firm’s 50-day simple moving average is $417.45 and its 200-day simple moving average is $386.41. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results 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 the consensus estimate of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.07 earnings per share. On average, research analysts forecast that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in 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. DA Davidson increased their target price on shares of Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group increased their target price on shares of Ulta Beauty from $470.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup increased their target price on shares of Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Piper Sandler raised their price objective on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, January 6th. 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 stock. According to MarketBeat.com, Ulta Beauty has a consensus rating of “Hold” and an average price target of $459.22.

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.