Shellback Capital LP Acquires 37,150 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Shellback Capital LP increased its stake in Ulta Beauty Inc. by 168.9%, acquiring an additional 37,150 shares during the first quarter, making Ulta Beauty its 17th largest position.
• Institutional investors currently own 90.39% of Ulta Beauty stock, with several firms like Price T Rowe Associates and JPMorgan Chase significantly boosting their investments in the retailer.
• Ulta Beauty reported $5.78 earnings per share for the last quarter, exceeding estimates, along with a revenue of $2.79 billion, reflecting a 9.3% increase compared to the previous year.

Shellback Capital LP increased its holdings in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 168.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,150 shares of the specialty retailer's stock after acquiring an additional 37,150 shares during the quarter. Ulta Beauty comprises approximately 2.1% of Shellback Capital LP's portfolio, making the stock its 17th biggest position. Shellback Capital LP owned 0.13% of Ulta Beauty worth $21,681,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Ulta Beauty by 128.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock worth $449,021,000 after purchasing an additional 688,267 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Ulta Beauty by 64.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock valued at $341,453,000 after buying an additional 366,147 shares during the period. JPMorgan Chase & Co. raised its stake in Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after buying an additional 410,900 shares in the last quarter. Invesco Ltd. lifted its holdings in Ulta Beauty by 10.9% in the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer's stock worth $298,231,000 after buying an additional 79,666 shares during the period. Finally, TD Asset Management Inc boosted its position in Ulta Beauty by 3.9% during the 1st quarter. TD Asset Management Inc now owns 536,169 shares of the specialty retailer's stock valued at $196,527,000 after acquiring an additional 20,124 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ULTA has been the subject of several research reports. Wells Fargo & Company increased their target price on Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price objective on Ulta Beauty from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. The Goldman Sachs Group boosted their target price on shares of Ulta Beauty from $530.00 to $584.00 and gave the company a "buy" rating in a report on Friday, August 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ulta Beauty in a research report on Friday, August 29th. Finally, 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 research report on Thursday, May 15th. Fourteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $543.13.

Ulta Beauty Price Performance

Shares of NASDAQ:ULTA opened at $514.86 on Friday. The business has a fifty day moving average price of $504.79 and a 200-day moving average price of $432.56. The company has a market capitalization of $23.09 billion, a PE ratio of 19.74, a PEG ratio of 2.84 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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.03 by $0.75. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. Ulta Beauty's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.30 EPS. On average, sell-side analysts anticipate that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Ulta Beauty Company 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.

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