Legal & General takes new $161.6M stake in Ulta Beauty
What's the deal? Legal & General Group PlcDealroom has a profile for this one. Try Dealroom → bought a new position in Ulta BeautyDealroom has a profile for this one. Try Dealroom → (NASDAQ:ULTA) during the second quarter, according to Holdings Channel. The firm acquired 358,331 shares of the specialty retailer, valued at roughly $161,600,000.
Why now? The move comes ahead of Ulta's fiscal second-quarter earnings, due Thursday. Deutsche BankDealroom has a profile for this one. Try Dealroom → expects comparable-sales growth to beat market expectations, citing strong traffic and resilient consumer spending.
Who else is buying? Several institutions adjusted positions in recent quarters, though most were far smaller. Fideuram Asset Management Ireland dacDealroom has a profile for this one. Try Dealroom → opened a $25,000 stake, while Strengthening Families & Communities LLCDealroom has a profile for this one. Try Dealroom → lifted its holding 4,200% to 43 shares worth $26,000. Institutional investors own 90.39% of Ulta's stock.
What do analysts say? Ratings are split. Wells FargoDealroom has a profile for this one. Try Dealroom → cut its targetDealroom has a profile for this one. Try Dealroom → to $450 with an "underweight" rating, while Goldman SachsDealroom has a profile for this one. Try Dealroom → trimmed its target to $652 but kept a "buy." EvercoreDealroom has a profile for this one. Try Dealroom → set a $635 objective, and UBSDealroom has a profile for this one. Try Dealroom → reiterated "buy."
Across coverage, one analyst rates the stock "strong buy," 19 "buy," six "hold," and one "sell." MarketBeat puts the consensus at "moderate buy" with a $636.41 price target.
What could go wrong? Competition is intensifying. Following its separation from Ulta, Target plans upscale beauty studios in stores, positioning itself as a more direct rival.
The signal: A nine-figure bet from a major asset manager signals confidence in beauty retail before a key earnings test. With Ulta's last quarter already topping consensus and a new nationwide partnership with Chinese brand ProyaDealroom has a profile for this one. Try Dealroom → expanding its assortment, expectations for another solid print are rising — even as rivals close in.
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