Ulta Beauty Inc. $ULTA Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky cut its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 63.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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 filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Ulta Beauty by 128.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,225,023 shares of the specialty retailer’s stock valued at $449,021,000 after purchasing an additional 688,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Ulta Beauty by 64.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 931,557 shares of the specialty retailer’s stock valued at $341,453,000 after acquiring an additional 366,147 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ulta Beauty by 81.7% in the first quarter. JPMorgan Chase & Co. now owns 913,600 shares of the specialty retailer’s stock valued at $334,871,000 after acquiring an additional 410,900 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ulta Beauty by 10.9% in the first quarter. Invesco Ltd. now owns 813,639 shares of the specialty retailer’s stock valued at $298,231,000 after acquiring an additional 79,666 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Ulta Beauty by 17.4% in the second quarter. Swedbank AB now owns 545,050 shares of the specialty retailer’s stock valued at $254,985,000 after acquiring an additional 80,734 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Ulta Beauty Stock Up 0.3%

ULTA 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 company has a 50 day moving average of $520.13 and a two-hundred day moving average of $452.62. The company has a market cap of $24.83 billion, a P/E ratio of 21.23, a P/E/G ratio of 3.04 and a beta of 1.06.

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

Insider Buying and Selling at Ulta Beauty

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of the 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 of the company’s stock, valued at approximately $1,195,837.09. This represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ULTA has been the topic of several analyst reports. DA Davidson lifted their target price on shares of Ulta Beauty from $585.00 to $625.00 and gave the company a “buy” rating in a report on Friday, August 29th. The Goldman Sachs Group lifted their target price on shares of Ulta Beauty from $530.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 29th. Piper Sandler initiated coverage on shares of Ulta Beauty in a report on Thursday, September 4th. They issued an “overweight” rating and a $590.00 target price on the stock. Morgan Stanley lifted their target price on shares of Ulta Beauty from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Finally, Bank of America lifted their target price on shares of Ulta Beauty from $500.00 to $575.00 and gave the company a “neutral” rating in a report on Friday, August 29th. One investment 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 company’s stock. Based on data from MarketBeat, Ulta Beauty currently has an average rating of “Moderate Buy” and an average price target of $544.20.

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.