Harvey Investment Co. LLC Sells 2,665 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Harvey Investment Co. LLC trimmed its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 5.0% in the fourth quarter, HoldingsChannel reports. The firm owned 50,477 shares of the specialty retailer’s stock after selling 2,665 shares during the period. Ulta Beauty makes up about 2.5% of Harvey Investment Co. LLC’s portfolio, making the stock its 14th largest position. Harvey Investment Co. LLC’s holdings in Ulta Beauty were worth $21,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. Sanctuary Advisors LLC acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at about $1,500,000. Czech National Bank boosted its holdings in Ulta Beauty by 6.4% in the third quarter. Czech National Bank now owns 9,720 shares of the specialty retailer’s stock worth $3,782,000 after acquiring an additional 585 shares in the last quarter. GAMMA Investing LLC grew its stake in Ulta Beauty by 26.0% in the third quarter. GAMMA Investing LLC now owns 422 shares of the specialty retailer’s stock valued at $164,000 after acquiring an additional 87 shares during the period. Boston Common Asset Management LLC bought a new stake in shares of Ulta Beauty during the third quarter valued at approximately $5,157,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Ulta Beauty by 348.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 386 shares of the specialty retailer’s stock worth $150,000 after purchasing an additional 300 shares during the period. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ULTA shares. BMO Capital Markets boosted their price target on shares of Ulta Beauty from $385.00 to $420.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Ulta Beauty from $350.00 to $370.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 7th. Piper Sandler raised their price target on shares of Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Oppenheimer boosted their price objective on Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, B. Riley upgraded Ulta Beauty from a “sell” rating to a “neutral” rating and raised their target price for the company from $330.00 to $430.00 in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Ulta Beauty currently has an average rating of “Hold” and an average target price of $459.22.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $401.60 on Friday. The business’s fifty day moving average price is $418.04 and its 200-day moving average price is $386.34. Ulta Beauty, Inc. has a one year low of $318.17 and a one year high of $574.76. The stock has a market capitalization of $18.62 billion, a PE ratio of 16.07, a P/E/G ratio of 0.98 and a beta of 1.28.

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, topping analysts’ consensus estimates of $4.45 by $0.69. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $5.07 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts expect 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.