Coerente Capital Management Boosts Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Coerente Capital Management grew its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.2% during the 1st quarter, HoldingsChannel reports. The fund owned 37,296 shares of the specialty retailer’s stock after buying an additional 432 shares during the period. Ulta Beauty comprises 2.7% of Coerente Capital Management’s portfolio, making the stock its 18th biggest holding. Coerente Capital Management’s holdings in Ulta Beauty were worth $13,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ULTA. LaFleur & Godfrey LLC lifted its position in shares of Ulta Beauty by 32.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 2,455 shares of the specialty retailer’s stock worth $1,068,000 after acquiring an additional 596 shares in the last quarter. Savant Capital LLC raised its position in shares of Ulta Beauty by 199.5% in the fourth quarter. Savant Capital LLC now owns 4,646 shares of the specialty retailer’s stock worth $2,021,000 after buying an additional 3,095 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of Ulta Beauty in the fourth quarter worth $311,000. Cigna Investments Inc. New purchased a new stake in shares of Ulta Beauty in the fourth quarter worth $214,000. Finally, Quent Capital LLC raised its position in shares of Ulta Beauty by 37.8% in the fourth quarter. Quent Capital LLC now owns 197 shares of the specialty retailer’s stock worth $86,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Ulta Beauty Trading Down 1.1%

Shares of NASDAQ:ULTA opened at $456.97 on Thursday. The stock’s 50-day moving average price is $400.36 and its 200-day moving average price is $394.11. Ulta Beauty, Inc. has a 12-month low of $309.01 and a 12-month high of $491.98. The stock has a market capitalization of $20.54 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

Ulta Beauty (NASDAQ:ULTA) last posted its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. Ulta Beauty’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $6.47 earnings per share. As a group, research analysts predict that Ulta Beauty, Inc. will post 23.96 EPS for the current year.

Analyst Ratings Changes

ULTA has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on Ulta Beauty from $364.00 to $386.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. UBS Group increased their price objective on Ulta Beauty from $490.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. BMO Capital Markets lowered their price objective on Ulta Beauty from $467.00 to $404.00 and set a “market perform” rating on the stock in a research report on Friday, March 14th. DA Davidson increased their price objective on Ulta Beauty from $415.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company increased their price objective on Ulta Beauty from $315.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $460.91.

Insider Buying and Selling

In related news, insider Jodi J. Caro sold 902 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $369.16, for a total value of $332,982.32. Following the sale, the insider now directly owns 7,632 shares of the company’s stock, valued at $2,817,429.12. This trade represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

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.