Independence Bank of Kentucky Purchases 166 Shares of Ulta Beauty, Inc. (NASDAQ:ULTA)

Independence Bank of Kentucky raised its position in Ulta Beauty, Inc. (NASDAQ:ULTAFree Report) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,494 shares of the specialty retailer’s stock after acquiring an additional 166 shares during the period. Independence Bank of Kentucky’s holdings in Ulta Beauty were worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Patten & Patten Inc. TN raised its stake in shares of Ulta Beauty by 34.4% in the fourth quarter. Patten & Patten Inc. TN now owns 6,173 shares of the specialty retailer’s stock valued at $3,025,000 after buying an additional 1,581 shares during the period. TIAA Trust National Association grew its position in shares of Ulta Beauty by 645.0% in the fourth quarter. TIAA Trust National Association now owns 33,430 shares of the specialty retailer’s stock valued at $16,380,000 after purchasing an additional 28,943 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Ulta Beauty by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 16,053 shares of the specialty retailer’s stock valued at $7,866,000 after purchasing an additional 100 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Ulta Beauty in the fourth quarter valued at $714,000. Finally, Monte Financial Group LLC grew its position in shares of Ulta Beauty by 1.6% in the fourth quarter. Monte Financial Group LLC now owns 1,990 shares of the specialty retailer’s stock valued at $975,000 after purchasing an additional 32 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ULTA. Raymond James reduced their price target on Ulta Beauty from $630.00 to $610.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Ulta Beauty from $574.00 to $627.00 in a research report on Friday, March 15th. UBS Group lifted their price target on Ulta Beauty from $575.00 to $690.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Barclays lifted their price target on Ulta Beauty from $583.00 to $612.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Morgan Stanley boosted their target price on Ulta Beauty from $480.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ulta Beauty currently has a consensus rating of “Moderate Buy” and a consensus price target of $576.70.

Check Out Our Latest Stock Report on ULTA

Insider Activity

In other news, COO Kecia Steelman sold 20,950 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the transaction, the chief operating officer now directly owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Kecia Steelman sold 20,950 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $526.39, for a total transaction of $11,027,870.50. Following the completion of the sale, the chief operating officer now directly owns 10,494 shares in the company, valued at approximately $5,523,936.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anita Jane Ryan sold 3,102 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $525.25, for a total value of $1,629,325.50. Following the sale, the insider now owns 2,705 shares of the company’s stock, valued at $1,420,801.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,552 shares of company stock worth $12,920,326. 0.34% of the stock is currently owned by insiders.

Ulta Beauty Trading Down 15.3 %

Shares of Ulta Beauty stock opened at $439.98 on Thursday. The firm has a market capitalization of $21.24 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The business’s 50-day moving average price is $528.84 and its 200-day moving average price is $465.14. Ulta Beauty, Inc. has a 12 month low of $368.02 and a 12 month high of $574.76.

Ulta Beauty (NASDAQ:ULTAGet Free Report) last announced its quarterly earnings data on Thursday, March 14th. The specialty retailer reported $8.08 EPS for the quarter, beating the consensus estimate of $7.49 by $0.59. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.53 billion. Ulta Beauty had a return on equity of 61.64% and a net margin of 11.52%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.68 EPS. As a group, analysts predict that Ulta Beauty, Inc. will post 26.94 earnings per share for the current fiscal year.

Ulta Beauty announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Ulta Beauty Profile

(Free Report)

Ulta Beauty, Inc operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services in the United States. It offers broad assortment of branded and private label beauty products including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools; and salon services, including hair, skin, makeup, and brow services, as well as nail services.

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Institutional Ownership by Quarter for Ulta Beauty (NASDAQ:ULTA)

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