EFG Asset Management Americas Corp. Purchases 2,451 Shares of Ulta Beauty Inc. (NASDAQ:ULTA)

Key Points

• EFG Asset Management Americas Corp. increased its stake in Ulta Beauty Inc. by 20.2% during Q1, holding 14,596 shares valued at $5.35 million.
• Wall Street analysts have raised target prices for Ulta Beauty stock, with Morgan Stanley setting a new target at $550 and consensus ratings leaning towards a "Hold".
• Ulta Beauty's recent quarterly earnings report showed an EPS of $6.70, exceeding estimates, with revenues of $2.85 billion, a 4.5% increase year-over-year.

EFG Asset Management Americas Corp. boosted its stake in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 20.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,596 shares of the specialty retailer's stock after purchasing an additional 2,451 shares during the period. EFG Asset Management Americas Corp.'s holdings in Ulta Beauty were worth $5,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ULTA. Capital World Investors acquired a new stake in shares of Ulta Beauty in the fourth quarter worth $430,674,000. Marshall Wace LLP grew its holdings in shares of Ulta Beauty by 10,336.7% in the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer's stock worth $199,681,000 after purchasing an additional 454,711 shares during the last quarter. GAMMA Investing LLC grew its holdings in Ulta Beauty by 38,770.6% during the 1st quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer's stock worth $162,565,000 after acquiring an additional 442,372 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Ulta Beauty by 5,117.0% during the 1st quarter. Pacer Advisors Inc. now owns 220,312 shares of the specialty retailer's stock worth $80,753,000 after acquiring an additional 216,089 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Ulta Beauty during the 4th quarter valued at about $73,780,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Price Performance

Shares of ULTA traded down $7.28 during mid-day trading on Friday, hitting $507.73. 609,772 shares of the company's stock were exchanged, compared to its average volume of 546,886. The company has a market cap of $22.82 billion, a PE ratio of 19.83, a P/E/G ratio of 3.12 and a beta of 1.08. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $523.68. The company has a 50-day simple moving average of $475.19 and a 200 day simple moving average of $411.48.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.79 billion. Ulta Beauty had a net margin of 10.45% and a return on equity of 49.73%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $6.47 EPS. On average, 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 brokerages recently weighed in on ULTA. UBS Group increased their price target on shares of Ulta Beauty from $490.00 to $525.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Canaccord Genuity Group increased their price target on shares of Ulta Beauty from $542.00 to $600.00 and gave the company a "buy" rating in a research report on Friday. Loop Capital reiterated a "hold" rating and issued a $510.00 price target on shares of Ulta Beauty in a research report on Friday, July 25th. Morgan Stanley increased their price target on shares of Ulta Beauty from $460.00 to $550.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Finally, Truist Financial increased 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $469.09.

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.