Pallas Capital Advisors LLC Grows Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Pallas Capital Advisors LLC lifted its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 320.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,545 shares of the specialty retailer's stock after buying an additional 1,939 shares during the quarter. Pallas Capital Advisors LLC's holdings in Ulta Beauty were worth $933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ULTA. Prestige Wealth Management Group LLC grew its position in shares of Ulta Beauty by 121.4% during the fourth quarter. Prestige Wealth Management Group LLC now owns 62 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 34 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Ulta Beauty during the first quarter worth about $29,000. Edge Capital Group LLC purchased a new position in shares of Ulta Beauty during the fourth quarter worth about $33,000. NBC Securities Inc. acquired a new position in Ulta Beauty in the 1st quarter valued at about $37,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Ulta Beauty by 35.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 118 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 31 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 0.1%

Shares of NASDAQ ULTA traded up $0.48 on Thursday, reaching $457.45. 160,130 shares of the company's stock traded hands, compared to its average volume of 1,043,409. Ulta Beauty, Inc. has a 12 month low of $309.01 and a 12 month high of $491.98. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09. The business's 50 day simple moving average is $400.36 and its two-hundred day simple moving average is $394.11.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating the consensus estimate of $5.73 by $0.97. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.47 EPS. Analysts forecast that Ulta Beauty, Inc. will post 23.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jodi J. Caro sold 902 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total value of $332,982.32. Following the transaction, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ULTA has been the topic of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Ulta Beauty from $465.00 to $490.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their target price on shares of Ulta Beauty from $477.00 to $525.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Barclays increased their price objective on shares of Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Truist Financial increased their price objective on Ulta Beauty from $364.00 to $386.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, BMO Capital Markets cut their price target on Ulta Beauty from $467.00 to $404.00 and set a "market perform" rating for the company in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Ulta Beauty has a consensus rating of "Hold" and an average price target of $460.91.

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.