5 Best Hair Care Stocks To Buy Now

4. Ulta Beauty, Inc. (NASDAQ:ULTA)

Number of Hedge Fund Holders: 44

Ulta Beauty, Inc. (NASDAQ:ULTA), previously known as Ulta Salon, is an American chain of beauty stores that offers a wide range of cosmetics, fragrances, skincare, and hair care products. In addition to retailing both mass-market and prestige brands, Ulta Beauty also provides salon services.

As of the end of the third quarter of 2023, 44 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Ulta Beauty Inc (NASDAQ:ULTA). The biggest stakeholder of Ulta Beauty Inc (NASDAQ:ULTA) is Anand Parekh’s Alyeska Investment Group which owns a $191 million stake in Ulta Beauty Inc (NASDAQ:ULTA).

Here is what Carillon Eagle Mid Cap Growth Fund has to say about Ulta Beauty, Inc. (NASDAQ:ULTA) in its Q2 2023 investor letter:

Ulta Beauty operates a chain of beauty stores. The stock underperformed after the company lowered its margin outlook as it continued to fight higher inventory shrink and other costs. Meanwhile, demand and transaction growth remain strong.”