Choreo LLC Acquires 1,198 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Choreo LLC lifted its holdings in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 71.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,868 shares of the specialty retailer’s stock after purchasing an additional 1,198 shares during the quarter. Choreo LLC’s holdings in Ulta Beauty were worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in Ulta Beauty during the fourth quarter worth about $263,192,000. Global Assets Advisory LLC acquired a new position in shares of Ulta Beauty in the 1st quarter worth approximately $176,753,000. TD Asset Management Inc raised its holdings in shares of Ulta Beauty by 177.8% in the 4th quarter. TD Asset Management Inc now owns 407,347 shares of the specialty retailer’s stock worth $199,596,000 after buying an additional 260,740 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Ulta Beauty by 210.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 271,550 shares of the specialty retailer’s stock worth $141,988,000 after buying an additional 184,060 shares during the period. Finally, Boston Partners boosted its stake in Ulta Beauty by 47.7% in the 1st quarter. Boston Partners now owns 476,027 shares of the specialty retailer’s stock valued at $246,862,000 after buying an additional 153,727 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ULTA has been the subject of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $356.00 price objective (down from $404.00) on shares of Ulta Beauty in a report on Friday, August 30th. DA Davidson cut their price target on shares of Ulta Beauty from $507.00 to $435.00 and set a “buy” rating for the company in a report on Friday, August 30th. Evercore ISI decreased their price objective on shares of Ulta Beauty from $500.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, August 26th. UBS Group dropped their price objective on shares of Ulta Beauty from $550.00 to $505.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. boosted their target price on Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $425.29.

Insiders Place Their Bets

In other news, insider Jodi J. Caro sold 650 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total value of $252,642.00. Following the completion of the sale, the insider now directly owns 6,801 shares of the company’s stock, valued at approximately $2,643,412.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ulta Beauty news, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total value of $39,008.00. Following the sale, the director now directly owns 2,017 shares in the company, valued at $786,791.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jodi J. Caro sold 650 shares of Ulta Beauty stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $388.68, for a total transaction of $252,642.00. Following the transaction, the insider now directly owns 6,801 shares in the company, valued at $2,643,412.68. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA opened at $373.08 on Friday. The company’s 50 day simple moving average is $368.39 and its 200 day simple moving average is $415.54. Ulta Beauty, Inc. has a fifty-two week low of $318.17 and a fifty-two week high of $574.76. The firm has a market capitalization of $17.80 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.10 and a beta of 1.31.

Ulta Beauty (NASDAQ:ULTA) last posted its quarterly earnings results on Thursday, August 29th. The specialty retailer reported $5.30 earnings per share for the quarter, missing analysts’ consensus estimates of $5.47 by ($0.17). Ulta Beauty had a net margin of 10.68% and a return on equity of 54.02%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $6.02 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts expect that Ulta Beauty, Inc. will post 23.24 EPS for the current fiscal 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.