Ulta BeautyULTA
About: With more than 1,400 freestanding stores and 600 Target shop-in-shops, Ulta Beauty is the largest specialized beauty retailer in the US. The firm offers cosmetics (39% of 2024 sales), fragrances (13%), skin care (23%), and hair care products (19%). It also offers salon services, including hair, makeup, skin, and brow, that account for about 4% of its revenue and drive traffic. In addition, it collects royalties through its Target partnership and credit card revenue. Most standalone Ulta stores are approximately 10,000 square feet and are in suburban strip centers. The firm will soon open franchised stores in Mexico and has formed a joint venture to expand into the Middle East. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.
Employees: 58,000
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
71% more call options, than puts
Call options by funds: $1.38B | Put options by funds: $807M
0.52% less ownership
Funds ownership: 89.73% [Q4 2024] → 89.22% (-0.52%) [Q1 2025]
4% less repeat investments, than reductions
Existing positions increased: 342 | Existing positions reduced: 358
5% less funds holding
Funds holding: 979 [Q4 2024] → 928 (-51) [Q1 2025]
16% less capital invested
Capital invested by funds: $18B [Q4 2024] → $15.2B (-$2.89B) [Q1 2025]
23% less first-time investments, than exits
New positions opened: 96 | Existing positions closed: 124
33% less funds holding in top 10
Funds holding in top 10: 12 [Q4 2024] → 8 (-4) [Q1 2025]
Research analyst outlook
16 Wall Street Analysts provided 1 year price targets over the past 3 months
16 analyst ratings
Barclays Adrienne Yih | 6%upside $485 | Equal-Weight Maintained | 2 Jun 2025 |
Morgan Stanley Simeon Gutman | 20%upside $550 | Overweight Maintained | 30 May 2025 |
Citigroup Kelly Crago | 2%downside $450 | Neutral Maintained | 30 May 2025 |
Oppenheimer Rupesh Parikh | 11%upside $510 | Outperform Maintained | 30 May 2025 |
Baird Mark Altschwager | 14%upside $525 | Outperform Maintained | 30 May 2025 |
Financial journalist opinion
Based on 36 articles about ULTA published over the past 30 days
