Ulta Beauty Inc. (ULTA)

Several events have impacted Ulta Beauty's stock price in the past six months. In August 2025, Ulta Beauty and Target Corporation announced their mutual decision to end their in-store partnership by August 2026, which led to a slight dip in shares for both companies. In July 2025, Ulta acquired the premium beauty retailer Space NK, including its 83 stores in the UK and Ireland. Ulta Beauty's stock experienced positive momentum following its Q3 2025 earnings release in late November/early December 2025, exceeding expectations and leading to raised full-year sales guidance. Subsequently, analysts upgraded their ratings and increased price targets for ULTA stock, reflecting confidence in the company's performance and growth trajectory. The share price of ULTA increased by 64.92% from January 13, 2025, to January 9, 2026, with a surge of approximately 42.3% in 2025 alone.

Ulta Beauty's products and services experience demand seasonality, with a notable peak in search interest for skincare and makeup products towards the end of the year, coinciding with holiday shopping trends. The holiday season generally sees a bump in beauty sales, although demand remains relatively strong throughout the year. While a December lull can occur after the Black Friday period, the beauty category has shown consistent strength. In Q1 2025, fragrance was a particularly strong category with double-digit growth, and skincare and wellness also saw high single-digit growth. Makeup sales saw their strongest performance since Q3 2023, despite a slight drop in Q1 2025, while haircare remained flat. Consumers are observed to be value-conscious but continue to purchase affordable luxuries, seasonal staples, and gifts.

Ulta Beauty, Inc. is a leading beauty retailer in the United States, operating as an American chain of cosmetic stores. The company offers a diverse range of products, including cosmetics, fragrances, nail products, bath and body products, beauty tools, and haircare products. Each location also features a beauty salon providing various services, and Ulta Beauty produces its own private label products under the "Ulta Beauty Collection" brand.

Ulta Beauty primarily operates within the United States, with 1,451 stores across all 50 states as of May 3, 2025, and maintains seven distribution centers in seven different states. In 2025, Ulta Beauty announced its expansion into the Mexican market through a joint venture with Grupo Axo, marking its first international operation outside the United States. The company also acquired Space NK and its 83 stores in the UK and Ireland in 2025 and is opening franchised stores in the Middle East. The partnership with Target, which included approximately 600 Ulta Beauty shop-in-shops, is set to conclude in August 2026.

Ulta Beauty faced backlash and calls for a #BoycottUltaBeauty campaign in August 2025 following a promotional campaign featuring non-binary influencer Jonathan Van Ness. In December 2025, an Ulta Beauty store was involved in a misdemeanor criminal case concerning alleged overpricing, and stolen merchandise was recovered, leading to arrests for organized retail theft. Despite these challenges, Ulta Beauty has received positive recognition, being listed as #46 among America's Most Trusted Companies in 2026 and #85 among the Best Brands For Social Impact in 2025 by Forbes.

Ulta Beauty, Inc. has a mixed ownership structure comprising institutional, retail, and individual investors. Institutional investors hold approximately 55.24% of the company's stock, with major holders including Vanguard Group Inc, BlackRock, Inc., and State Street Corp. Insiders own approximately 0.19% of the stock, while public companies and individual investors collectively hold about 44.57%. Upfront II LP is identified as the largest individual shareholder.