Covenant Asset Management LLC grew its stake in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,782 shares of the specialty retailer’s stock after acquiring an additional 1,221 shares during the quarter. Covenant Asset Management LLC’s holdings in Ulta Beauty were worth $1,070,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in Ulta Beauty by 58.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,390,665 shares of the specialty retailer’s stock worth $314,378,000 after buying an additional 512,315 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt bought a new stake in Ulta Beauty in the 3rd quarter worth about $83,642,000. Old Mutual Global Investors UK Ltd. increased its holdings in Ulta Beauty by 173.8% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 527,993 shares of the specialty retailer’s stock worth $119,358,000 after buying an additional 335,148 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ulta Beauty by 605.4% in the 2nd quarter. Renaissance Technologies LLC now owns 389,400 shares of the specialty retailer’s stock worth $111,890,000 after buying an additional 334,198 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Ulta Beauty by 162.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 482,329 shares of the specialty retailer’s stock worth $109,033,000 after buying an additional 298,725 shares in the last quarter. Hedge funds and other institutional investors own 88.69% of the company’s stock.
Several equities research analysts recently commented on ULTA shares. Cowen set a $336.00 price objective on Ulta Beauty and gave the stock a “buy” rating in a report on Friday, October 20th. Loop Capital set a $300.00 price objective on Ulta Beauty and gave the stock a “buy” rating in a report on Sunday, December 3rd. Buckingham Research upgraded Ulta Beauty from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Tuesday, December 19th. They noted that the move was a valuation call. Cleveland Research downgraded Ulta Beauty from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $189.50 to $314.00 in a report on Thursday, October 12th. Finally, Wells Fargo & Co set a $297.00 price objective on Ulta Beauty and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Ulta Beauty presently has a consensus rating of “Buy” and a consensus price target of $261.05.
Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.
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