Primecap Management Co. CA Acquires New Holdings in Ulta Beauty Inc. $ULTA

Key Points

• Primecap Management acquired 61,000 Ulta Beauty shares worth approximately $27.5 million during the second quarter, giving it about a 0.14% stake. Institutional investors collectively own 90.39% of the company.
• Ulta reported quarterly EPS of $7.74, beating the $6.89 consensus estimate, while revenue rose 11.1% year over year to $3.16 billion. The company issued fiscal 2026 EPS guidance of $28.36–$28.80.
• Analysts remain generally bullish, with a “Moderate Buy” consensus rating and an average price target of $636.41, although Piper Sandler and Morgan Stanley recently lowered their targets. Director George R. Mrkonic Jr. also sold 383 shares, reducing his position by 13.74%.

Primecap Management Co. CA bought a new stake in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,000 shares of the specialty retailer's stock, valued at approximately $27,510,000. Primecap Management Co. CA owned approximately 0.14% of Ulta Beauty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ULTA. Focus Partners Wealth boosted its holdings in shares of Ulta Beauty by 231.6% during the 1st quarter. Focus Partners Wealth now owns 3,744 shares of the specialty retailer's stock valued at $1,372,000 after acquiring an additional 2,615 shares in the last quarter. Intech Investment Management LLC increased its holdings in Ulta Beauty by 48.9% in the 1st quarter. Intech Investment Management LLC now owns 4,795 shares of the specialty retailer's stock worth $1,758,000 after purchasing an additional 1,574 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Ulta Beauty in the second quarter valued at about $466,000. Jump Financial LLC bought a new position in Ulta Beauty in the second quarter valued at about $1,196,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Ulta Beauty by 0.9% during the second quarter. Daiwa Securities Group Inc. now owns 7,475 shares of the specialty retailer's stock valued at $3,497,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 383 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $475.84, for a total value of $182,246.72. Following the transaction, the director owned 2,404 shares in the company, valued at approximately $1,143,919.36. The trade was a 13.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Ulta Beauty Trading Up 1.1%

Shares of ULTA stock opened at $543.19 on Thursday. Ulta Beauty Inc. has a 1-year low of $443.60 and a 1-year high of $714.97. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.67 and a beta of 0.87. The stock has a 50-day moving average of $494.65 and a 200-day moving average of $535.92.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The specialty retailer reported $7.74 EPS for the quarter, topping analysts' consensus estimates of $6.89 by $0.85. Ulta Beauty had a return on equity of 44.77% and a net margin of 9.36%.The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the firm earned $6.70 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Ulta Beauty has set its FY 2026 guidance at 28.360-28.800 EPS. Sell-side analysts forecast that Ulta Beauty Inc. will post 28.76 earnings per share for the current year.

Trending Headlines about Ulta Beauty

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

• Positive Sentiment: Potential same-store sales beat: Deutsche Bank expects Ulta’s fiscal second-quarter comparable-sales growth to exceed market expectations. Strong traffic, demand for beauty products and resilient consumer spending could support revenue and earnings. Ulta Beauty Second-Quarter Same-Store Sales Poised for Beat
• Positive Sentiment: Wall Street remains broadly optimistic: Analysts continue to show a favorable outlook for ULTA despite its weaker performance versus the broader market over the past year. The upbeat target-price commentary may help support investor confidence ahead of results. What Are Wall Street Analysts' Target Price for Ulta Beauty Stock?
• Positive Sentiment: New brand partnership: Ulta is expanding its assortment through a nationwide U.S. agreement with Chinese beauty brand Proya, potentially adding product innovation and international growth to its sales mix. Proya Steps Up Overseas Expansion Through Agreement With Ulta Beauty
• Neutral Sentiment: Earnings are the next major catalyst: Analysts are focused on comparable sales, margins, customer trends and updated guidance in Thursday’s fiscal second-quarter report. Ulta’s latest reported quarter already exceeded consensus EPS and revenue estimates, raising expectations for another solid performance. Ulta Beauty Q2 2026 Earnings Preview
• Negative Sentiment: Target is becoming a more direct competitor: Following its separation from Ulta, Target plans to introduce upscale beauty studios in stores and expand its selection to more than 90 prestige brands across over 600 locations. This could increase pressure on Ulta’s traffic, market share and brand exclusivity over time. Target Unveils New Beauty Spaces

Analysts Set New Price Targets

Several research firms have recently weighed in on ULTA. TD Cowen restated a "buy" rating on shares of Ulta Beauty in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Ulta Beauty from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. Piper Sandler cut their target price on shares of Ulta Beauty from $725.00 to $600.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. UBS Group reissued a "buy" rating on shares of Ulta Beauty in a report on Monday. Finally, Morgan Stanley decreased their price target on shares of Ulta Beauty from $700.00 to $630.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $636.41.

Ulta Beauty Company Profile

Ulta Beauty, Inc NASDAQ: ULTA is a U.S.-based specialty retailer and beauty services provider focused on cosmetics, fragrance, skin care, hair care, bath and body, and beauty tools. The company operates a dual-format business that combines brick-and-mortar retail stores with an e-commerce platform, offering a broad assortment of national, prestige and mass-market brands alongside its own private-label products. In many locations Ulta also provides full-service salon treatments, positioning the company as a one-stop destination for product discovery and in-store services.

The retailer's product mix spans color cosmetics, haircare and styling products, skin and body care, fragrance, and accessories, catering to a wide range of consumer preferences and price points.

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