DoubleLine ETF Adviser LP Acquires Shares of 1,168 Ulta Beauty Inc. $ULTA

Key Points

• DoubleLine ETF Adviser LP purchased 1,168 shares of Ulta Beauty Inc., valued at approximately $428,000, in the 1st quarter.
• Several institutional investors have significantly increased their stakes in Ulta Beauty, with Price T Rowe Associates raising its position by 128.2%, now owning over 1.2 million shares.
• Ulta Beauty reported an earnings per share of $5.78 for the last quarter, exceeding analysts' expectations, alongside a revenue increase of 9.3% year-over-year.

DoubleLine ETF Adviser LP acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,168 shares of the specialty retailer's stock, valued at approximately $428,000.

Several other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 buying an additional 688,267 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ulta Beauty by 38,770.6% in the first quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer's stock worth $162,565,000 after purchasing an additional 442,372 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 in the last quarter. T. Rowe Price Investment Management Inc. grew its stake 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 in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Ulta Beauty by 5,117.0% in the 1st quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock worth $80,753,000 after buying an additional 216,089 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Down 2.8%

ULTA traded down $14.64 on Friday, reaching $514.86. The company's stock had a trading volume of 880,236 shares, compared to its average volume of 902,338. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.83 and a beta of 1.06. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $539.00. The stock has a 50 day moving average of $504.79 and a two-hundred day moving average of $433.02.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.Ulta Beauty's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.30 earnings per share. As a group, analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ULTA. Morgan Stanley upped their price target on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Bank of America increased their price objective on shares of Ulta Beauty from $500.00 to $575.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Evercore ISI lifted their price objective on shares of Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. UBS Group boosted their price objective on shares of Ulta Beauty from $640.00 to $680.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Canaccord Genuity Group set a $650.00 price objective on shares of Ulta Beauty in a research note on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ulta Beauty currently has a consensus rating of "Hold" and an average target price of $543.13.

Ulta Beauty Company 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.