Independence Bank of Kentucky Has $663,000 Stock Position in Ulta Beauty, Inc. (NASDAQ:ULTA)

Independence Bank of Kentucky grew its stake in shares of Ulta Beauty, Inc. (NASDAQ:ULTA) by 16.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,718 shares of the specialty retailer’s stock after purchasing an additional 244 shares during the quarter. Independence Bank of Kentucky’s holdings in Ulta Beauty were worth $663,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vima LLC acquired a new position in shares of Ulta Beauty during the 4th quarter worth approximately $27,000. Riverview Trust Co acquired a new position in shares of Ulta Beauty during the 1st quarter worth approximately $30,000. Sound Income Strategies LLC increased its position in shares of Ulta Beauty by 490.0% during the 1st quarter. Sound Income Strategies LLC now owns 59 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Ulta Beauty during the 1st quarter worth approximately $31,000. Finally, Manchester Capital Management LLC increased its position in shares of Ulta Beauty by 41.2% during the 4th quarter. Manchester Capital Management LLC now owns 72 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Ulta Beauty Price Performance

Shares of NASDAQ ULTA traded up $4.39 during mid-day trading on Friday, reaching $378.65. 987,894 shares of the company’s stock traded hands, compared to its average volume of 1,367,393. The stock has a market cap of $18.07 billion, a P/E ratio of 14.77, a PEG ratio of 1.73 and a beta of 1.37. The business has a 50-day simple moving average of $373.87 and a 200 day simple moving average of $430.82. Ulta Beauty, Inc. has a 1-year low of $318.17 and a 1-year high of $574.76.

Ulta Beauty (NASDAQ:ULTA) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.19 by $0.28. Ulta Beauty had a net margin of 11.13% and a return on equity of 58.06%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the firm posted $6.88 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Ulta Beauty, Inc. will post 25.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ULTA shares. JPMorgan Chase & Co. lifted their target price on Ulta Beauty from $530.00 to $544.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Canaccord Genuity Group cut their price objective on shares of Ulta Beauty from $575.00 to $522.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. TD Cowen reduced their price objective on shares of Ulta Beauty from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. The Goldman Sachs Group cut their price target on shares of Ulta Beauty from $475.00 to $412.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Ulta Beauty in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ulta Beauty presently has an average rating of “Moderate Buy” and an average price target of $492.00.

Insider Activity

In related news, Director Catherine Ann Halligan sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $390.08, for a total transaction of $39,008.00. Following the sale, the director now directly owns 2,017 shares in the company, valued at approximately $786,791.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ulta Beauty news, insider Jodi J. Caro sold 650 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $388.68, for a total value of $252,642.00. Following the sale, the insider now directly owns 6,801 shares in the company, valued at approximately $2,643,412.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine Ann Halligan sold 100 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $390.08, for a total transaction of $39,008.00. Following the completion of the sale, the director now owns 2,017 shares in the company, valued at $786,791.36. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

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.