Permanens Capital L.P. Boosts Stake in Ulta Beauty Inc. $ULTA

Key Points

• Permanens Capital L.P. increased its stake in Ulta Beauty Inc. by 28.4%, acquiring an additional 2,485 shares and now holding a total of 11,228 shares valued at approximately $4.12 million.
• Ulta Beauty reported strong quarterly earnings of $5.78 per share, exceeding analysts' expectations of $5.03, and achieved $2.79 billion in revenue, a 9.3% increase year-over-year.
• Institutional investors own about 90.39% of Ulta Beauty's stock, reflecting significant interest and investment from large financial firms.

Permanens Capital L.P. increased its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 28.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,228 shares of the specialty retailer's stock after acquiring an additional 2,485 shares during the period. Ulta Beauty comprises 0.7% of Permanens Capital L.P.'s investment portfolio, making the stock its 17th biggest holding. Permanens Capital L.P.'s holdings in Ulta Beauty were worth $4,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank & Trust purchased a new stake in shares of Ulta Beauty in the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Ulta Beauty in the first quarter worth approximately $31,000. Rakuten Securities Inc. raised its stake in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock worth $32,000 after purchasing an additional 59 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 40 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of Ulta Beauty in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Ulta Beauty Trading Down 2.3%

Shares of NASDAQ ULTA traded down $11.80 during mid-day trading on Tuesday, hitting $508.01. The company had a trading volume of 84,054 shares, compared to its average volume of 888,654. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.83 and a beta of 1.06. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $539.00. The stock's 50-day moving average price is $505.83 and its 200-day moving average price is $434.13.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.30 earnings per share. As a group, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insider Buying and Selling

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total value of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares of the company's stock, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ULTA shares. Wall Street Zen raised Ulta Beauty from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Wells Fargo & Company increased their price target on Ulta Beauty from $400.00 to $425.00 and gave the company an "underweight" rating in a research report on Friday, August 29th. Evercore ISI increased their price target on Ulta Beauty from $595.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on Ulta Beauty from $525.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Finally, Piper Sandler initiated coverage on shares of Ulta Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $590.00 target price for the company. Fourteen research analysts have rated the stock with a Buy rating, twelve have assigned 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 an average target price of $543.13.

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.