Corebridge Financial Inc. Has $5.06 Million Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Corebridge Financial Inc. lessened its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,624 shares of the specialty retailer’s stock after selling 1,948 shares during the quarter. Corebridge Financial Inc.’s holdings in Ulta Beauty were worth $5,056,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ULTA. Holocene Advisors LP boosted its stake in shares of Ulta Beauty by 3,246.2% in the 3rd quarter. Holocene Advisors LP now owns 346,262 shares of the specialty retailer’s stock valued at $134,737,000 after purchasing an additional 335,914 shares during the last quarter. Atreides Management LP bought a new position in Ulta Beauty in the third quarter valued at approximately $73,069,000. Proficio Capital Partners LLC acquired a new stake in Ulta Beauty during the 4th quarter worth $58,074,000. Victory Capital Management Inc. grew its holdings in Ulta Beauty by 364.6% during the 4th quarter. Victory Capital Management Inc. now owns 159,053 shares of the specialty retailer’s stock worth $69,177,000 after acquiring an additional 124,822 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ulta Beauty by 258.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 126,190 shares of the specialty retailer’s stock valued at $54,884,000 after purchasing an additional 90,972 shares during the period. Institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

ULTA has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Ulta Beauty from $425.00 to $364.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group decreased their target price on Ulta Beauty from $538.00 to $526.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Telsey Advisory Group reiterated an “outperform” rating and issued a $500.00 price target on shares of Ulta Beauty in a research report on Monday, March 10th. Bank of America decreased their price objective on shares of Ulta Beauty from $475.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Loop Capital increased their target price on shares of Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $427.13.

Ulta Beauty Price Performance

Ulta Beauty stock opened at $359.47 on Friday. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.89 and a beta of 1.34. The firm has a 50-day moving average of $373.67 and a 200-day moving average of $386.31. Ulta Beauty, Inc. has a one year low of $309.01 and a one year high of $529.67.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, beating the consensus estimate of $7.13 by $1.33. Ulta Beauty had a return on equity of 51.95% and a net margin of 10.58%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the firm posted $8.08 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts expect 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.