Ulta Beauty falls after Warren Buffett's Berkshire dumps stake
** Shares of Ulta Beauty ULTA.O drop nearly 6% to $361 premarket
** Warren Buffett's Berkshire Hathaway BRKa.N 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
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