** Shares of Ulta Beauty drop nearly 6% to $361 premarket ** Warren Buffett's Berkshire Hathaway dumps stake in the cosmetics firm by 96.5%, a regulatory filing showed on Thursday ** Berkshire had first disclosed investment in Ulta in August ** In August, Ulta lowered its FY sales and profit forecasts, owing to weakening demand for higher-priced cosmetics and perfumes
** Median price target of 31 analysts has declined to $400 from $490 three months ago
** Stock is down 22% so far this year, as of last close
(Reporting by Savyata Mishra in Bengaluru) ((mailto:Savyata.Mishra@thomsonreuters.com))
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