Here’s Why Carillon Tower Remains Optimistic in Ulta Beauty (ULTA)

Carillon Tower Advisers, an investment management firm, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Carillon Eagle Mid Cap Growth Fund reported total net assets of $6.46 billion, and investments in shares of 87 distinct companies. Take a moment to explore the Carillon Eagle Mid Cap Growth Fund’s top 5 holdings for insights into their key investment choices in 2023.

In its Q2 2023 investor letter, Carillon Eagle Mid Cap Growth Fund mentioned Ulta Beauty, Inc. (NASDAQ:ULTA) and explained its insights for the company. 1990, Ulta Beauty, Inc. (NASDAQ:ULTA) is a Bolingbrook, Illinois-based beauty salon company with a $20.4 billion market capitalization. Ulta Beauty, Inc. (NASDAQ:ULTA) delivered a -11.31% return since the beginning of the year, while its 12-month returns are down by -1.67%. The stock closed at $416.01 per share on September 01, 2023.

Here is what Carillon Eagle Mid Cap Growth Fund has to say about Ulta Beauty, Inc. (NASDAQ:ULTA) in its Q2 2023 investor letter:

Ulta Beauty operates a chain of beauty stores. The stock underperformed after the company lowered its margin outlook as it continued to fight higher inventory shrink and other costs. Meanwhile, demand and transaction growth remain strong.”

hair, salon, care, shampoo, washing, hairdressing, hairdresser, spa, mask, woman, blonde, wet, process, young, closeup, hose, brown, head, shower, service, conditioner,

Petrenko Andriy/Shutterstock.com

Our calculations show that Ulta Beauty, Inc. (NASDAQ:ULTA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Ulta Beauty, Inc. (NASDAQ:ULTA) was in 49 hedge fund portfolios at the end of the second quarter of 2023, compared to 49 funds in the previous quarter. Ulta Beauty, Inc. (NASDAQ:ULTA) delivered a -1.51% return in the past 3 months.

We also discussed Ulta Beauty, Inc. (NASDAQ:ULTA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.