Independence Bank of Kentucky Sells 362 Shares of Ulta Beauty Inc. $ULTA

Independence Bank of Kentucky cut its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA) by 63.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206 shares of the specialty retailer’s stock after selling 362 shares during the quarter. Independence Bank of Kentucky’s holdings in Ulta Beauty were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Financial Partners Group LLC bought a new stake in Ulta Beauty during the second quarter valued at about $219,000. Tempus Wealth Planning LLC grew its position in shares of Ulta Beauty by 15.9% during the second quarter. Tempus Wealth Planning LLC now owns 1,454 shares of the specialty retailer’s stock valued at $680,000 after purchasing an additional 200 shares in the last quarter. ORG Partners LLC grew its position in shares of Ulta Beauty by 17.7% during the second quarter. ORG Partners LLC now owns 153 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 23 shares in the last quarter. Patton Fund Management Inc. purchased a new position in Ulta Beauty in the second quarter worth about $268,000. Finally, Kathmere Capital Management LLC increased its stake in Ulta Beauty by 73.2% during the second quarter. Kathmere Capital Management LLC now owns 1,413 shares of the specialty retailer’s stock worth $661,000 after acquiring an additional 597 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

Ulta Beauty Stock Up 0.3%

Shares of ULTA stock opened at $553.71 on Tuesday. Ulta Beauty Inc. has a 52 week low of $309.01 and a 52 week high of $554.13. The stock has a market capitalization of $24.83 billion, a PE ratio of 21.23, a P/E/G ratio of 3.04 and a beta of 1.06. The firm has a 50 day moving average of $520.13 and a two-hundred day moving average of $452.62.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ULTA. Argus raised Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price objective on the stock in a research note on Thursday, September 25th. Telsey Advisory Group restated an “outperform” rating and set a $610.00 target price on shares of Ulta Beauty in a research report on Monday, September 8th. JPMorgan Chase & Co. boosted their price objective on shares of Ulta Beauty from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. The Goldman Sachs Group upped their price target on Ulta Beauty from $530.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, UBS Group upped their target price on Ulta Beauty from $640.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $544.20.

Insider Buying and Selling

In related news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $528.43, for a total transaction of $264,215.00. Following the sale, the director directly owned 2,263 shares in the company, valued at $1,195,837.09. This trade represents a 18.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

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.