Ulta Beauty Inc. $ULTA Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Ulta Beauty Inc. by 4.5%, selling 526 shares to hold a total of 11,098 shares valued at approximately $4.07 million.
• Ulta Beauty reported earnings of $5.78 per share for the most recent quarter, exceeding expectations and showing a 9.3% year-over-year revenue growth to $2.79 billion.
• Analysts have updated their price targets for Ulta Beauty, with ranges now spanning from $425.00 to $640.00, reflecting varied outlooks on the stock's performance.

Corebridge Financial Inc. decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,098 shares of the specialty retailer's stock after selling 526 shares during the quarter. Corebridge Financial Inc.'s holdings in Ulta Beauty were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Wambolt & Associates LLC raised its holdings in shares of Ulta Beauty by 1.6% during the first quarter. Wambolt & Associates LLC now owns 1,673 shares of the specialty retailer's stock valued at $626,000 after acquiring an additional 26 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Ulta Beauty by 32.5% in the first quarter. Westside Investment Management Inc. now owns 110 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 27 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Ulta Beauty by 4.3% in the first quarter. Procyon Advisors LLC now owns 707 shares of the specialty retailer's stock worth $259,000 after acquiring an additional 29 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Ulta Beauty by 5.0% during the fourth quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer's stock valued at $272,000 after buying an additional 30 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in shares of Ulta Beauty by 5.0% during the first quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock valued at $229,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler reissued a "neutral" rating and issued a $437.00 target price (up from $386.00) on shares of Ulta Beauty in a research report on Friday, May 30th. Canaccord Genuity Group set a $650.00 target price on Ulta Beauty in a research note on Friday. Raymond James Financial restated an "outperform" rating and set a $605.00 price target (up previously from $580.00) on shares of Ulta Beauty in a report on Friday. JPMorgan Chase & Co. lifted their target price on Ulta Beauty from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, Wall Street Zen raised Ulta Beauty from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Thirteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $536.75.

Ulta Beauty Stock Up 8.1%

Shares of Ulta Beauty stock traded up $39.79 during mid-day trading on Tuesday, reaching $532.52. 2,198,905 shares of the stock traded hands, compared to its average volume of 758,975. The business has a 50-day moving average of $500.78 and a 200 day moving average of $429.22. Ulta Beauty Inc. has a fifty-two week low of $309.01 and a fifty-two week high of $538.59. The stock has a market capitalization of $23.88 billion, a PE ratio of 20.42, a PEG ratio of 2.88 and a beta of 1.06.

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

Ulta Beauty Company 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.