Interval Partners LP Purchases 185,565 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Interval Partners LP significantly increased its stake in Ulta Beauty, acquiring an additional 185,565 shares, leading to a total ownership of 191,828 shares, representing approximately 1.5% of its investment portfolio.
• Analysts have updated their price targets for Ulta Beauty, with Canaccord Genuity setting a target of $650.00, while the consensus price target stands at $543.13 according to MarketBeat.
• Ulta Beauty reported a quarterly earnings increase, with EPS of $5.78 exceeding estimates, and revenue of $2.79 billion, up 9.3% from the same quarter last year.

Interval Partners LP raised its stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 2,962.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,828 shares of the specialty retailer's stock after purchasing an additional 185,565 shares during the quarter. Ulta Beauty makes up about 1.5% of Interval Partners LP's portfolio, making the stock its 9th biggest holding. Interval Partners LP owned 0.42% of Ulta Beauty worth $70,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ULTA. Price T Rowe Associates Inc. MD boosted its stake in shares of Ulta Beauty by 128.2% during 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 acquiring an additional 688,267 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 period. JPMorgan Chase & Co. boosted its stake in shares of Ulta Beauty by 81.7% during the 1st quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock worth $334,871,000 after acquiring an additional 410,900 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Ulta Beauty by 64.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer's stock worth $341,453,000 after acquiring an additional 366,147 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of 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 period. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cowen reissued a "hold" rating on shares of Ulta Beauty in a report on Friday, August 29th. Raymond James Financial reissued an "outperform" rating and set a $605.00 price target (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. Piper Sandler assumed coverage on Ulta Beauty in a report on Thursday. They set an "overweight" rating and a $590.00 price target for the company. Wells Fargo & Company lifted their price target on Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a report on Friday, August 29th. Finally, Telsey Advisory Group lifted their price target on Ulta Beauty from $590.00 to $610.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $543.13.

Ulta Beauty Stock Down 2.8%

Shares of ULTA traded down $14.64 during midday trading on Friday, hitting $514.86. The company's stock had a trading volume of 880,236 shares, compared to its average volume of 902,338. Ulta Beauty Inc. has a one year low of $309.01 and a one year high of $539.00. The company's fifty day simple moving average is $504.79 and its two-hundred day simple moving average is $433.02. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.06.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $0.75. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.30 EPS. On average, research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

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.