Independence Bank of Kentucky Sells 767 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Independence Bank of Kentucky decreased its position in Ulta Beauty, Inc. (NASDAQ:ULTA - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 568 shares of the specialty retailer's stock after selling 767 shares during the period. Independence Bank of Kentucky's holdings in Ulta Beauty were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors bought a new stake in Ulta Beauty during the fourth quarter worth $430,674,000. Norges Bank purchased a new stake in shares of Ulta Beauty during the 4th quarter valued at $239,432,000. Marshall Wace LLP raised its stake in shares of Ulta Beauty by 10,336.7% during the 4th quarter. Marshall Wace LLP now owns 459,110 shares of the specialty retailer's stock worth $199,681,000 after purchasing an additional 454,711 shares during the period. GAMMA Investing LLC raised its stake in shares of Ulta Beauty by 38,770.6% during the 1st quarter. GAMMA Investing LLC now owns 443,513 shares of the specialty retailer's stock worth $162,565,000 after purchasing an additional 442,372 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ulta Beauty in the 4th quarter worth about $73,780,000. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In other Ulta Beauty news, insider Jodi J. Caro sold 902 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $369.16, for a total value of $332,982.32. Following the completion of the transaction, the insider now owns 7,632 shares of the company's stock, valued at $2,817,429.12. The trade was a 10.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Ulta Beauty Trading Down 0.3%

Ulta Beauty stock opened at $465.64 on Friday. Ulta Beauty, Inc. has a 1-year low of $309.01 and a 1-year high of $491.98. The firm has a market capitalization of $20.93 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09. The firm's 50 day simple moving average is $394.80 and its 200 day simple moving average is $391.91.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The specialty retailer reported $6.70 EPS for the quarter, beating analysts' consensus estimates of $5.73 by $0.97. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business earned $6.47 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that Ulta Beauty, Inc. will post 23.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ULTA. Oppenheimer lifted their price objective on shares of Ulta Beauty from $465.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Bank of America dropped their price objective on Ulta Beauty from $475.00 to $380.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Argus lowered Ulta Beauty from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Canaccord Genuity Group raised their target price on Ulta Beauty from $510.00 to $542.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Evercore ISI upped their price target on Ulta Beauty from $465.00 to $490.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $460.91.

About Ulta Beauty

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.

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