Choreo LLC Increases Stake in Ulta Beauty Inc. $ULTA

Choreo LLC grew its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,018 shares of the specialty retailer’s stock after acquiring an additional 350 shares during the period. Choreo LLC’s holdings in Ulta Beauty were worth $1,412,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hemington Wealth Management increased its stake in shares of Ulta Beauty by 142.9% in the 2nd quarter. Hemington Wealth Management now owns 68 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Ulta Beauty during the first quarter valued at about $36,000. Costello Asset Management INC purchased a new stake in Ulta Beauty in the first quarter worth about $37,000. MTM Investment Management LLC purchased a new stake in Ulta Beauty in the second quarter worth about $47,000. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of Ulta Beauty in the second quarter worth about $52,000. Institutional investors own 90.39% of the company’s stock.

Ulta Beauty Stock Performance

ULTA opened at $540.38 on Friday. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.57 and a beta of 1.05. The company has a fifty day moving average of $530.33 and a 200 day moving average of $501.60. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $572.23.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 EPS for the quarter, beating the consensus estimate of $5.03 by $0.75. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.30 EPS. On average, equities research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

Insider Activity at Ulta Beauty

In related news, Director Mike C. Smith sold 500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director directly owned 2,263 shares in the company, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ULTA shares. Bank of America boosted their price objective on Ulta Beauty from $500.00 to $575.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Wells Fargo & Company upped their price target on shares of Ulta Beauty from $425.00 to $450.00 and gave the stock an “underweight” rating in a research report on Thursday, October 16th. Jefferies Financial Group increased their price objective on shares of Ulta Beauty from $425.00 to $550.00 and gave the stock a “hold” rating in a research note on Tuesday, August 26th. Piper Sandler started coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They set an “overweight” rating and a $590.00 target price on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $605.00 target price (up previously from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $550.38.

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.