Korea Investment CORP Has $19.84 Million Stock Position in Ulta Beauty Inc. $ULTA

Key Points

• Korea Investment CORP reduced its holdings in Ulta Beauty Inc. by 4.8% in the first quarter, leaving them with a stock position valued at approximately $19.84 million.
• Analyst reports show a positive outlook for Ulta Beauty, with twelve analysts issuing "Buy" ratings and increased price targets, with a consensus target price of $475.17.
• Ulta Beauty reported earnings per share (EPS) of $6.70 for the last quarter, surpassing estimates and showing a 4.5% year-over-year revenue growth.

Korea Investment CORP reduced its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 54,119 shares of the specialty retailer's stock after selling 2,751 shares during the quarter. Korea Investment CORP owned approximately 0.12% of Ulta Beauty worth $19,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new position in Ulta Beauty in the 1st quarter valued at approximately $1,136,000. Algert Global LLC acquired a new stake in shares of Ulta Beauty during the first quarter worth $484,000. Raymond James Financial Inc. increased its position in shares of Ulta Beauty by 14.9% during the first quarter. Raymond James Financial Inc. now owns 74,327 shares of the specialty retailer's stock worth $27,244,000 after buying an additional 9,614 shares during the period. American Century Companies Inc. increased its position in shares of Ulta Beauty by 36.4% during the first quarter. American Century Companies Inc. now owns 116,383 shares of the specialty retailer's stock worth $42,659,000 after buying an additional 31,049 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Ulta Beauty during the first quarter worth $10,268,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ULTA has been the subject of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Ulta Beauty from $542.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. DA Davidson increased their price objective on shares of Ulta Beauty from $550.00 to $585.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating on shares of Ulta Beauty in a research report on Thursday, August 14th. Evercore ISI increased their price objective on shares of Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $520.00 price objective on shares of Ulta Beauty in a research report on Friday, July 11th. Twelve research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $475.17.

Ulta Beauty Stock Up 0.0%

Shares of NASDAQ ULTA opened at $516.69 on Thursday. The firm has a market cap of $23.23 billion, a PE ratio of 20.18, a P/E/G ratio of 3.11 and a beta of 1.12. Ulta Beauty Inc. has a 12-month low of $309.01 and a 12-month high of $534.10. The company's fifty day simple moving average is $491.57 and its 200 day simple moving average is $420.54.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.97. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. Ulta Beauty's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.47 earnings per share. Ulta Beauty has set its FY 2025 guidance at 22.650-23.200 EPS. On average, equities analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

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.

Want to see what other hedge funds are holding ULTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ulta Beauty Inc. (NASDAQ:ULTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.