5 Best Beauty Stocks to Invest In

3. Ulta Beauty, Inc. (NASDAQ: ULTA

Market Capitalization: $18.9 billion
Number of Hedge Fund Holders: 46 

Ulta Beauty, Inc. (NASDAQ: ULTA) is a chain of beauty stores and one of the largest beauty retailers in America. The company deals with beauty products, including skin, hair, fragrances, and also offer salon services to its customers. Ulta Beauty, Inc. (NASDAQ: ULTA) ranks third on our list of the best beauty stocks to invest in. 

In Q1 2021, Ulta Beauty, Inc. (NSDAQ: ULTA) generated over $1.9 billion in revenue, up from $1.1 billion during the same period last year. The EPS for the quarter stood at $4.1, beating the market estimate of $1.95. The ULTA stock has also shown solid performance in the past year, after seeing a low of $148 in March 2020. The stock price has gained over 72% in the past year and 22.3% year to date. 

Ulta Beauty, Inc. (NASDAQ: ULTA) remained the top choice of JPMorgan in consumer stocks. Earlier in May, the bank raised the price target on ULTA stock to $379, rating it as ‘Overweight’. Of 866 hedge funds tracked by Insider Monkey, 46 funds have positions in Ulta Beauty, Inc. (NASDAQ: ULTA) in Q1 2021, up from 43 in the previous quarter.