$ulta beauty(ULTA)$ reported its first earnings report after becoming Warren Buffett's newest position, and as overall results and guidance fell short of market expectations, it plunged 8% after hours, with investors exclaiming, "Did Warren Buffett look away?Performance summaryRevenue and profit missed expectationsTotal revenue came in at $2.55 billion, up 4% year-over-year, but still below market expectations of $2.6 billion.Net income was $252.6 million, down from $300.1 million a year ago.Earnings per share were $5.30, below analysts' expectations of $5.50.Store business draggedSame-store comparable sales declined 1.2%, below market expectations for 1.3% growth.This included a 1.8% decline in transaction volume and a 0.6% increase in customer u
Will Ulta Hit $400 With Buffett's Pick?
Warren Buffett initiated a position in Ulta Beauty during the second quarter and increased his holdings in Chubb and Occidental Petroleum. Meanwhile, Berkshire Hathaway reduced its positions in Capital One Financial, T-Mobile US, and Floor & Decor Holdings. ----------- Will Ulta hit $400 with Buffett's pick? What's your target price for Ulta?
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