Ulta Beauty (ULTA)

• Market cap: $16.8B
• 1 day: -1.40%
• 5 days: -0.23%
• 1 month: -14.36%
• 3 months: 6.72%
• 6 months: -5.09%
• Year to date: -15.76%
• 1 year: -32.90%
• 5 years: 20.75%
• 10 years: 163.42%
• Sector: Consumer Discretionary
• Industry: Retail Stores

About: With more than 1,400 freestanding stores and a partnership with Target, Ulta Beauty is the largest specialized beauty retailer in the US. The firm offers makeup (41% of 2023 sales), fragrances, skin care (19% of sales), and hair care products (19% of sales), and bath and body items. Ulta offers private-label products and more than 600 individual brands. It also offers salon services, including hair, makeup, skin, and brow services, in all stores. Most Ulta stores are approximately 10,000 square feet and are in suburban strip centers. The firm intends to open franchises in Mexico in 2025. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.

Employees: 56,000

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

71% more funds holding in top 10

Funds holding in top 10: 7 [Q3] → 12 (+5) [Q4]

21% more first-time investments, than exits

New positions opened: 153 | Existing positions closed: 126

10% more capital invested

Capital invested by funds: $16.3B [Q3] → $17.9B (+$1.57B) [Q4]

8% more call options, than puts

Call options by funds: $1.68B | Put options by funds: $1.55B

1% less funds holding

Funds holding: 951 [Q3] → 944 (-7) [Q4]

2.66% less ownership

Funds ownership: 91.72% [Q3] → 89.05% (-2.66%) [Q4]

24% less repeat investments, than reductions

Existing positions increased: 293 | Existing positions reduced: 386

Research analyst outlook

17 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $370 2% upside
• Avg. target: $470 30% upside
• High target: $538 49% upside

17 analyst ratings

• positive: 8 47%
• neutral: 8 47%
• negative: 1 6%

Morgan Stanley Simeon Gutman 58% 1-year accuracy 22 / 38 met price target	38% upside $500	Overweight Upgraded	21 Jan 2025
Barclays Adrienne Yih 41% 1-year accuracy 42 / 103 met price target	23% upside $445	Equal-Weight Maintained	9 Jan 2025
TD Cowen Oliver Chen 47% 1-year accuracy 14 / 30 met price target	33% upside $480	Hold Maintained	8 Jan 2025
Canaccord Genuity Susan Anderson 24% 1-year accuracy 8 / 33 met price target	49% upside $538	Buy Maintained	7 Jan 2025
Citigroup Kelly Crago 0% 1-year accuracy 0 / 1 met price target	26% upside $457	Neutral Maintained	7 Jan 2025