Prudential PLC Has $5.24 Million Stock Position in Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• Prudential PLC increased its stake in Ulta Beauty Inc. by 6.1%, owning a total of 14,297 shares valued at approximately $5.24 million as of the most recent reporting period.
• Ulta Beauty reported an earnings per share (EPS) of $6.70, exceeding the consensus estimate of $5.73, with a 4.5% year-over-year revenue increase to $2.85 billion.
• Analysts have mixed views on Ulta Beauty, with a consensus rating of "Hold" and a target price averaging $473.00, following various adjustments from multiple brokerages.

Prudential PLC increased its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,297 shares of the specialty retailer's stock after acquiring an additional 825 shares during the quarter. Prudential PLC's holdings in Ulta Beauty were worth $5,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its holdings in shares of Ulta Beauty by 1.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 15,153 shares of the specialty retailer's stock worth $5,538,000 after buying an additional 258 shares in the last quarter. Enhancing Capital LLC boosted its holdings in shares of Ulta Beauty by 2.7% during the 1st quarter. Enhancing Capital LLC now owns 1,476 shares of the specialty retailer's stock worth $541,000 after buying an additional 39 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Ulta Beauty by 6.3% during the 1st quarter. Public Sector Pension Investment Board now owns 6,269 shares of the specialty retailer's stock worth $2,298,000 after buying an additional 371 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Ulta Beauty by 13.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,196 shares of the specialty retailer's stock worth $438,000 after buying an additional 138 shares in the last quarter. Finally, SouthState Corp boosted its holdings in shares of Ulta Beauty by 8.2% during the 1st quarter. SouthState Corp now owns 8,640 shares of the specialty retailer's stock worth $3,167,000 after buying an additional 655 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 3.2%

Shares of NASDAQ ULTA opened at $532.71 on Thursday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $534.10. The business has a 50-day simple moving average of $486.03 and a two-hundred day simple moving average of $416.90. The company has a market cap of $23.95 billion, a P/E ratio of 20.81, a P/E/G ratio of 3.11 and a beta of 1.12.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its 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 return on equity of 49.73% and a net margin of 10.45%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company earned $6.47 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Ulta Beauty Inc. will post 23.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ULTA. UBS Group upped their target price on Ulta Beauty from $490.00 to $525.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Canaccord Genuity Group increased their price target on Ulta Beauty from $542.00 to $600.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen lowered Ulta Beauty from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Telsey Advisory Group reissued an "outperform" rating and issued a $520.00 price target on shares of Ulta Beauty in a research report on Friday, July 11th. Finally, Barclays increased their price target on Ulta Beauty from $327.00 to $485.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $473.00.

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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