Alyeska Investment Group L.P. Sells 146,785 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Alyeska Investment Group L.P. reduced its stake in Ulta Beauty by 46.9%, selling 146,785 shares and now holding approximately 165,937 shares worth $60.8 million.
• Several hedge funds increased their positions in Ulta Beauty, with Price T Rowe Associates Inc. leading with a 128.2% increase for a total of 1,225,023 shares valued at $449 million.
• Ulta Beauty reported an EPS of $5.78 for the quarter, surpassing estimates, with quarterly revenues up 9.3% year-over-year at $2.79 billion.

Alyeska Investment Group L.P. decreased its position in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 46.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,937 shares of the specialty retailer's stock after selling 146,785 shares during the period. Alyeska Investment Group L.P. owned approximately 0.37% of Ulta Beauty worth $60,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Ulta Beauty by 128.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock valued at $449,021,000 after acquiring an additional 688,267 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock valued at $341,453,000 after acquiring an additional 366,147 shares during the last quarter. JPMorgan Chase & Co. increased its position in Ulta Beauty by 81.7% during the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock valued at $334,871,000 after acquiring an additional 410,900 shares during the last quarter. Invesco Ltd. increased its position in Ulta Beauty by 10.9% during the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock valued at $298,231,000 after acquiring an additional 79,666 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Ulta Beauty by 1.4% during the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock valued at $285,123,000 after acquiring an additional 9,291 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Ulta Beauty Price Performance

Shares of Ulta Beauty stock opened at $531.07 on Thursday. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $539.00. The firm's 50-day moving average is $502.22 and its two-hundred day moving average is $429.92. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.88 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.75. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $5.30 EPS. On average, equities analysts expect that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ULTA shares. Truist Financial boosted their price objective on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Robert W. Baird upped their price target on shares of Ulta Beauty from $575.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Wells Fargo & Company upped their price target on shares of Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a report on Friday, August 29th. Wall Street Zen upgraded shares of Ulta Beauty from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Barclays upped their price target on shares of Ulta Beauty from $589.00 to $617.00 and gave the stock an "overweight" rating in a report on Tuesday. Thirteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $536.75.

Ulta Beauty Profile

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.

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