Modus Advisors LLC Cuts Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Modus Advisors LLC reduced its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 89.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 461 shares of the specialty retailer’s stock after selling 3,789 shares during the quarter. Modus Advisors LLC’s holdings in Ulta Beauty were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Ulta Beauty by 180,713.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,238,569 shares of the specialty retailer’s stock valued at $481,952,000 after purchasing an additional 1,237,884 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ulta Beauty by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,188,730 shares of the specialty retailer’s stock valued at $461,059,000 after purchasing an additional 10,153 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Ulta Beauty in the third quarter valued at $359,480,000. TD Asset Management Inc grew its holdings in Ulta Beauty by 14.1% during the 2nd quarter. TD Asset Management Inc now owns 620,793 shares of the specialty retailer’s stock valued at $239,545,000 after buying an additional 76,721 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of Ulta Beauty by 5.4% during the third quarter. Champlain Investment Partners LLC now owns 610,400 shares of the specialty retailer’s stock worth $237,519,000 after purchasing an additional 31,540 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen cut their price objective on shares of Ulta Beauty from $390.00 to $380.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Canaccord Genuity Group lifted their price target on shares of Ulta Beauty from $442.00 to $476.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus upped their price objective on Ulta Beauty from $395.00 to $455.00 and gave the stock a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Ulta Beauty from $472.00 to $480.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Loop Capital lifted their price objective on Ulta Beauty from $450.00 to $480.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $439.30.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA traded up $0.74 during midday trading on Friday, reaching $429.90. The company’s stock had a trading volume of 67,882 shares, compared to its average volume of 378,847. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The business’s fifty day simple moving average is $396.34 and its 200-day simple moving average is $382.44. The company has a market capitalization of $19.94 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.38 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, December 5th. The specialty retailer reported $5.14 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm earned $5.07 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that Ulta Beauty, Inc. will post 23.57 earnings per share 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.