Elevate Capital Advisors LLC Invests $3 Million in Ulta Beauty, Inc. (NASDAQ:ULTA)

Elevate Capital Advisors LLC bought a new stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,890 shares of the specialty retailer’s stock, valued at approximately $2,997,000. Ulta Beauty makes up about 2.6% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in shares of Ulta Beauty by 4.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 627 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 28 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in Ulta Beauty by 0.5% during the fourth quarter. Stonegate Investment Group LLC now owns 6,623 shares of the specialty retailer’s stock worth $2,881,000 after acquiring an additional 34 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in Ulta Beauty by 2.2% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,576 shares of the specialty retailer’s stock worth $685,000 after acquiring an additional 34 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in Ulta Beauty by 4.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 832 shares of the specialty retailer’s stock worth $362,000 after purchasing an additional 35 shares during the period. Finally, Hedeker Wealth LLC increased its stake in shares of Ulta Beauty by 0.5% during the fourth quarter. Hedeker Wealth LLC now owns 7,010 shares of the specialty retailer’s stock valued at $3,049,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of ULTA stock opened at $374.79 on Monday. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.96 and a beta of 1.28. Ulta Beauty, Inc. has a 1 year low of $318.17 and a 1 year high of $574.76. The firm has a fifty day moving average price of $417.81 and a 200-day moving average price of $386.20.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, December 5th. The specialty retailer reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.69. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. Ulta Beauty’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts expect that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Wall Street Analyst Weigh In

ULTA has been the topic of several recent research reports. BMO Capital Markets upped their price target on Ulta Beauty from $385.00 to $420.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Loop Capital increased their target price on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. William Blair lowered Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $500.00 price target on shares of Ulta Beauty in a research note on Tuesday, January 7th. Finally, Morgan Stanley upgraded shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $430.00 to $500.00 in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $459.22.

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.