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 Q2 regulatory disclosures by fund managers ($100M+ AUM)
117% more first-time investments, than exits
New positions opened: 182 | Existing positions closed: 84
38% more funds holding in top 10
Funds holding in top 10: 8 [Q1] → 11 (+3) [Q2]
29% more capital invested
Capital invested by funds: $15.3B [Q1] → $19.9B (+$4.5B) [Q2]
8% more funds holding
Funds holding: 936 [Q1] → 1,013 (+77) [Q2]
4.23% more ownership
Funds ownership: 90.36% [Q1] → 94.59% (+4.23%) [Q2]
10% less repeat investments, than reductions
Existing positions increased: 329 | Existing positions reduced: 366
17% less call options, than puts
Call options by funds: $549M | Put options by funds: $659M
Research analyst outlook
16 Wall Street Analysts provided 1 year price targets over the past 3 months
16 analyst ratings
Jefferies Ashley Helgans | 5%upside $550 | Hold Maintained | 26 Aug 2025 |
Telsey Advisory Group Dana Telsey | 12%upside $590 | Outperform Maintained | 25 Aug 2025 |
JP Morgan Christopher Horvers | 14%upside $600 | Overweight Maintained | 22 Aug 2025 |
Barclays Adrienne Yih | 12%upside $589 | Overweight Upgraded | 22 Aug 2025 |
UBS Michael Lasser | 22%upside $640 | Buy Maintained | 21 Aug 2025 |
Financial journalist opinion
Based on 30 articles about ULTA published over the past 30 days
