Broadway Wealth Solutions Inc. Invests $334,000 in Ulta Beauty, Inc. (NASDAQ:ULTA)

Broadway Wealth Solutions Inc. purchased a new stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 767 shares of the specialty retailer’s stock, valued at approximately $334,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Ulta Beauty in the fourth quarter valued at approximately $239,432,000. UniSuper Management Pty Ltd boosted its holdings in shares of Ulta Beauty by 7.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 5,702 shares of the specialty retailer’s stock valued at $2,480,000 after acquiring an additional 401 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Ulta Beauty by 582.2% in the fourth quarter. WINTON GROUP Ltd now owns 18,815 shares of the specialty retailer’s stock worth $8,183,000 after acquiring an additional 16,057 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Ulta Beauty during the fourth quarter worth $217,000. Finally, Summitry LLC lifted its position in Ulta Beauty by 2.4% during the fourth quarter. Summitry LLC now owns 216,671 shares of the specialty retailer’s stock valued at $94,237,000 after purchasing an additional 5,137 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ULTA shares. StockNews.com raised Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on Ulta Beauty from $475.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, March 14th. B. Riley lowered their price objective on Ulta Beauty from $430.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Loop Capital lifted their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Morgan Stanley decreased their target price on shares of Ulta Beauty from $500.00 to $460.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $427.13.

Ulta Beauty Price Performance

Shares of ULTA opened at $370.34 on Friday. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $529.67. The company has a 50-day moving average of $374.58 and a two-hundred day moving average of $386.37. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.89 and a beta of 1.34.

Ulta Beauty (NASDAQ:ULTA) last issued its earnings results on Thursday, March 13th. The specialty retailer reported $8.46 earnings per share for the quarter, beating analysts’ consensus estimates of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $8.08 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts anticipate that Ulta Beauty, Inc. will post 23.96 earnings per share for the current 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.