Coerente Capital Management Purchases 432 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Coerente Capital Management increased its position in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,296 shares of the specialty retailer’s stock after acquiring an additional 432 shares during the period. Ulta Beauty comprises about 2.7% of Coerente Capital Management’s portfolio, making the stock its 18th biggest position. Coerente Capital Management owned about 0.08% of Ulta Beauty worth $13,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ULTA. Laurel Wealth Advisors LLC lifted its holdings in Ulta Beauty by 200.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 150 shares of the specialty retailer’s stock worth $55,000 after buying an additional 100 shares during the period. Curbstone Financial Management Corp acquired a new position in Ulta Beauty during the 1st quarter worth about $1,232,000. Rowlandmiller & PARTNERS.ADV lifted its holdings in Ulta Beauty by 51.1% during the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 1,375 shares of the specialty retailer’s stock worth $504,000 after buying an additional 465 shares during the period. Handelsbanken Fonder AB lifted its holdings in Ulta Beauty by 0.3% during the 1st quarter. Handelsbanken Fonder AB now owns 28,850 shares of the specialty retailer’s stock worth $10,575,000 after buying an additional 81 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Ulta Beauty by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer’s stock worth $444,000 after buying an additional 69 shares during the period. Institutional investors own 90.39% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

ULTA has been the topic of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $437.00 target price (up from $386.00) on shares of Ulta Beauty in a report on Friday, May 30th. Robert W. Baird boosted their price objective on Ulta Beauty from $440.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Citigroup boosted their price objective on Ulta Beauty from $425.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Barclays boosted their price objective on Ulta Beauty from $327.00 to $485.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Finally, UBS Group boosted their price objective on Ulta Beauty from $490.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $460.91.

Ulta Beauty Stock Performance

Shares of ULTA opened at $456.97 on Thursday. The stock has a 50 day moving average price of $400.36 and a two-hundred day moving average price of $394.11. The firm has a market capitalization of $20.54 billion, a P/E ratio of 18.29, a P/E/G ratio of 0.89 and a beta of 1.09. Ulta Beauty, Inc. has a 52 week low of $309.01 and a 52 week high of $491.98.

Ulta Beauty (NASDAQ:ULTA) last released its earnings results on Thursday, May 29th. The specialty retailer reported $6.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.97. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates 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 in the prior year, the company posted $6.47 earnings per share. On average, equities analysts forecast 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.