ULTA BEAUTY, INC.
In the published model solve dated 2026-Q2, anchored at $517.11, ULTA BEAUTY, INC. (ULTA) is priced for +2.5% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• The bar embedded in today's price is unusually low for a retailer of this quality: operating profit growing about 2.2% a year for five years, against a business that just reported ⟦"The total comparable sales increase of 5.3%"⟧ for the 13 weeks to May 2, 2026. • The concentration risk is on the supply side rather than the customer side, with the annual report disclosing that ⟦"During fiscal 2025 and fiscal 2024, merchandise supplied by our top ten brand partners accounted for approximately 51%
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1,057 institutional managers reported holding ULTA in 13F filings for the quarter ended 2026-03-31. Together they hold about 93% of the company; the top 10 hold 44%. 110 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 2.1M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ULTA has cut its share count 19.9% over the past five years, spending $5.48B on repurchases. It pays no dividend. Cash returned over the past three years: $3.16B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ULTA over the trailing three years: 2025: 1 buy totaling $500k. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ULTA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-26 | -12.7% | +6.0% |
| 2023-08-25 | -7.0% | -6.7% |
| 2023-12-01 | +12.4% | +7.0% |
| 2024-03-27 | -5.5% | -26.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ULTA's latest 8-K filings: 2026-08-27 (items 2.02, 9.01); 2026-08-17 (items 5.02, 8.01, 9.01); 2026-07-14 (items 5.02, 7.01, 9.01); 2026-06-09 (items 5.02, 5.03, 5.07, 9.01); 2026-06-02 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.