Bar Harbor Wealth Management Increases Holdings in Ulta Beauty, Inc. (NASDAQ:ULTA)

Bar Harbor Wealth Management increased its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,140 shares of the specialty retailer’s stock after acquiring an additional 598 shares during the period. Bar Harbor Wealth Management’s holdings in Ulta Beauty were worth $1,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Paladin Wealth LLC bought a new position in shares of Ulta Beauty during the 3rd quarter valued at approximately $32,000. Sunbelt Securities Inc. boosted its stake in shares of Ulta Beauty by 118.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 45 shares during the period. Westside Investment Management Inc. grew its holdings in Ulta Beauty by 151.5% during the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 50 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Ulta Beauty in the fourth quarter worth about $43,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Ulta Beauty during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ULTA. JPMorgan Chase & Co. increased their target price on Ulta Beauty from $472.00 to $480.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of Ulta Beauty from $390.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. William Blair lowered shares of Ulta Beauty from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Raymond James lowered their price target on Ulta Beauty from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, Oppenheimer raised 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $460.30.

Ulta Beauty Price Performance

Ulta Beauty stock traded down $13.88 during mid-day trading on Monday, reaching $404.35. 642,184 shares of the company traded hands, compared to its average volume of 856,527. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The firm’s fifty day moving average is $402.01 and its two-hundred day moving average is $384.00. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.38 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. As a group, equities research analysts predict that Ulta Beauty, Inc. will post 23.57 earnings per share for the current year.

Ulta Beauty Company 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.