Bank of America Corp DE Makes New Investment in Ulta Beauty Inc. $ULTA

Key Points

• Bank of America acquired 576,949 Ulta Beauty shares worth approximately $260.2 million, representing about 1.34% of the company. Institutional investors and hedge funds collectively own 90.39% of Ulta’s stock.
• Ulta reported quarterly EPS of $6.55, beating estimates of $6.22, while revenue rose 8.9% year over year to $3.04 billion. The company issued fiscal 2026 EPS guidance of $28.70–$29.00.
• Analysts remain broadly positive, with 24 Buy ratings and eight Holds, producing a consensus “Moderate Buy” rating and an average price target of $627.83 versus the stock’s recent price near $530.52.

Bank of America Corp DE acquired a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 576,949 shares of the specialty retailer's stock, valued at approximately $260,192,000. Bank of America Corp DE owned approximately 1.34% of Ulta Beauty as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Ulta Beauty in the 2nd quarter worth approximately $1,815,712,000. Diamant Asset Management Inc. raised its stake in Ulta Beauty by 52,171.0% during the first quarter. Diamant Asset Management Inc. now owns 1,474,042 shares of the specialty retailer's stock worth $77,050,000 after acquiring an additional 1,471,222 shares in the last quarter. Norges Bank bought a new position in shares of Ulta Beauty during the fourth quarter valued at $430,963,000. Legal & General Group Plc bought a new position in shares of Ulta Beauty during the second quarter valued at $161,600,000. Finally, Deutsche Bank AG acquired a new stake in shares of Ulta Beauty in the 2nd quarter valued at $124,784,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ULTA shares. DA Davidson reaffirmed a "buy" rating and issued a $625.00 target price on shares of Ulta Beauty in a report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Ulta Beauty from $750.00 to $631.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. Guggenheim assumed coverage on shares of Ulta Beauty in a research report on Tuesday. They issued a "buy" rating on the stock. TD Cowen reaffirmed a "buy" rating on shares of Ulta Beauty in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $650.00 price objective on shares of Ulta Beauty in a report on Friday, August 28th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Ulta Beauty presently has an average rating of "Moderate Buy" and a consensus price target of $627.83.

Ulta Beauty Stock Performance

Shares of ULTA stock opened at $530.52 on Thursday. Ulta Beauty Inc. has a 52 week low of $443.60 and a 52 week high of $714.97. The stock has a market capitalization of $22.69 billion, a PE ratio of 19.33, a PEG ratio of 1.63 and a beta of 0.85. The stock's fifty day moving average is $519.37 and its 200-day moving average is $521.01.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The specialty retailer reported $6.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.22 by $0.33. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.99 billion. Ulta Beauty had a return on equity of 45.40% and a net margin of 9.34%.The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $5.78 earnings per share. Ulta Beauty has set its FY 2026 guidance at 28.700-29.000 EPS. As a group, analysts forecast that Ulta Beauty Inc. will post 28.94 earnings per share for the current fiscal year.

More Ulta Beauty News

Here are the key news stories impacting Ulta Beauty this week:

• Positive Sentiment: DA Davidson reiterated its Buy rating, reinforcing the view that Ulta’s recent pullback offers attractive long-term value. The company’s latest quarter also showed strong fundamentals, with revenue up 8.9% year over year and earnings exceeding estimates. DA Davidson Reiterates Buy Rating for Ulta Beauty
• Positive Sentiment: An analyst who had been bearish on Ulta is no longer negative, contributing to a broader improvement in Wall Street sentiment. Ulta maintains a consensus Moderate Buy rating, with the average analyst target materially above recent trading levels. Ulta Beauty Analyst Upgrade
• Positive Sentiment: CEO Kecia Steelman highlighted AI-powered loyalty data, personalized customer engagement and other initiatives intended to support Ulta’s next phase of growth following the Target exit. The strategy could improve marketing efficiency and strengthen customer retention. Ulta Beauty CEO on Target Exit and AI-Powered Loyalty Data
• Neutral Sentiment: A director, Lorna Nagler, sold 600 shares worth approximately $322,000. The transaction reduced her direct holdings by 7.72%, but its relatively small size may have limited implications for the company’s outlook. Lorna Nagler Sells Ulta Beauty Shares
• Negative Sentiment: Ulta is encountering customer opposition to Flock license-plate cameras and other anti-theft measures. Continued criticism could create reputational risk, increase customer dissatisfaction or pressure the retailer to change its security practices. Ulta Beauty Faces Backlash Over Anti-Theft Tool
• Negative Sentiment: The end of the Ulta-Target relationship is raising questions about what will replace Ulta locations in affected stores and whether the company could lose customer reach or sales tied to the partnership. After Ulta and Target Breakup

Insider Activity

In other news, Director Lorna Nagler sold 600 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $537.31, for a total transaction of $322,386.00. Following the sale, the director directly owned 7,168 shares of the company's stock, valued at $3,851,438.08. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

About Ulta Beauty

Ulta Beauty, Inc is a specialty beauty retailer operating under the Ulta Beauty brand. The company sells a broad selection of cosmetics, skincare, haircare, fragrance, bath and body products, and beauty tools across a range of price points. Its merchandise includes both established brands and private-label products, as well as prestige, mass-market and professional beauty offerings.

In addition to retail sales, Ulta Beauty provides services through salon locations within many of its stores, including hair, skin and brow services.

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