Ulta Beauty Inc. $ULTA Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Ulta Beauty Inc. by 57.8%, holding 5,998 shares worth approximately $2.2 million after selling 8,200 shares in the first quarter.
• Analysts have raised their price targets for Ulta Beauty, with Evercore ISI increasing it to $490 and Oppenheimer to $600, while the consensus price target is currently $495.35.
• Ulta Beauty reported $6.70 EPS in its most recent quarterly earnings, surpassing analysts' expectations of $5.73, with a revenue of $2.85 billion for the quarter.

1832 Asset Management L.P. decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,998 shares of the specialty retailer's stock after selling 8,200 shares during the quarter. 1832 Asset Management L.P.'s holdings in Ulta Beauty were worth $2,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Ulta Beauty by 128.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer's stock valued at $449,021,000 after acquiring an additional 688,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Ulta Beauty by 64.8% in 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 acquiring an additional 366,147 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer's stock valued at $334,871,000 after acquiring an additional 410,900 shares in the last quarter. Invesco Ltd. raised 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 valued at $298,231,000 after acquiring an additional 79,666 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Ulta Beauty by 1.4% in the fourth quarter. Deutsche Bank AG now owns 655,561 shares of the specialty retailer's stock valued at $285,123,000 after acquiring an additional 9,291 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson raised their target price on shares of Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI raised their price objective on shares of Ulta Beauty from $595.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday. Loop Capital reissued a "hold" rating and set a $510.00 price objective on shares of Ulta Beauty in a report on Friday, July 25th. The Goldman Sachs Group raised their price objective on shares of Ulta Beauty from $530.00 to $584.00 and gave the stock a "buy" rating in a report on Friday. Finally, Truist Financial raised their price objective on shares of Ulta Beauty from $364.00 to $386.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Thirteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ulta Beauty has a consensus rating of "Hold" and a consensus price target of $534.75.

Ulta Beauty Trading Down 7.1%

Shares of Ulta Beauty stock traded down $37.90 during trading on Friday, reaching $492.73. The company's stock had a trading volume of 2,938,427 shares, compared to its average volume of 792,634. The company has a 50-day moving average price of $498.99 and a two-hundred day moving average price of $427.60. The firm has a market cap of $22.09 billion, a PE ratio of 18.89, a P/E/G ratio of 2.88 and a beta of 1.06. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $538.59.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last announced its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating analysts' consensus estimates of $5.03 by $0.75. The business 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%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $5.30 EPS. On average, analysts predict 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.