Mitsubishi UFJ Asset Management Co. Ltd. Has $34.92 Million Holdings in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ulta Beauty by 3.9%, owning 95,279 shares worth approximately $34.92 million at the end of the 1st quarter.
• Ulta Beauty reported a net revenue of $2.85 billion for the quarter, exceeding analysts' expectations, and reported an earnings per share (EPS) of $6.70, which surpassed the consensus estimate of $5.73.
• Analysts have rated Ulta Beauty with a consensus "Hold" rating, while price targets from various firms range from $364.00 to $525.00.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,279 shares of the specialty retailer's stock after purchasing an additional 3,588 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Ulta Beauty worth $34,924,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ulta Beauty by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,092 shares of the specialty retailer's stock worth $2,190,000 after acquiring an additional 924 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Ulta Beauty by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after acquiring an additional 152 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Ulta Beauty during the 1st quarter worth about $201,000. Farther Finance Advisors LLC lifted its holdings in shares of Ulta Beauty by 128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the specialty retailer's stock worth $275,000 after acquiring an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Ulta Beauty by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer's stock worth $444,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $498.21 on Friday. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $523.68. The company has a 50 day moving average of $483.37 and a 200-day moving average of $414.86. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 3.01 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, topping the consensus estimate of $5.73 by $0.97. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. During the same quarter in the previous year, the company earned $6.47 EPS. Ulta Beauty's revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ULTA shares. Raymond James Financial reaffirmed an "outperform" rating and set a $500.00 price objective (up from $450.00) on shares of Ulta Beauty in a report on Friday, May 30th. Wall Street Zen downgraded shares of Ulta Beauty from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Truist Financial lifted their price target on shares of Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Oppenheimer lifted their price target on shares of Ulta Beauty from $465.00 to $510.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, UBS Group lifted their price target on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $469.09.

About Ulta Beauty

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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