Jessup Wealth Management Inc Buys 19,442 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Jessup Wealth Management Inc grew its stake in Ulta Beauty, Inc. (NASDAQ:ULTA) by 3,218.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,046 shares of the specialty retailer’s stock after buying an additional 19,442 shares during the period. Ulta Beauty accounts for 3.7% of Jessup Wealth Management Inc’s holdings, making the stock its 6th biggest position. Jessup Wealth Management Inc’s holdings in Ulta Beauty were worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sunbelt Securities Inc. boosted its position in Ulta Beauty by 118.4% in the third quarter. Sunbelt Securities Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 45 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 151.5% in the 3rd quarter. Westside Investment Management Inc. now owns 83 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 50 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ulta Beauty in the third quarter worth $41,000. Future Financial Wealth Managment LLC purchased a new position in shares of Ulta Beauty during the fourth quarter worth $43,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Ulta Beauty during the fourth quarter valued at $43,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ULTA. Loop Capital increased their price target on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup raised their target price on Ulta Beauty from $450.00 to $457.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler boosted their price target on Ulta Beauty from $390.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, January 6th. TD Cowen upped their price objective on Ulta Beauty from $450.00 to $480.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley raised shares of Ulta Beauty from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $430.00 to $500.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $459.22.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $359.96 on Thursday. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The stock’s fifty day moving average is $412.67 and its two-hundred day moving average is $386.75. The firm has a market capitalization of $16.69 billion, a P/E ratio of 14.40, a PEG ratio of 0.88 and a beta of 1.28.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly 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. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.50 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. Ulta Beauty’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.07 earnings per share. On average, equities analysts forecast that Ulta Beauty, Inc. will post 23.97 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.