5 New Stock Picks of Billionaire Ray Dalio

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In this article, we discuss the 5 new stock picks of billionaire Ray Dalio. If you want to read about some more stocks in the Ray Dalio portfolio, go directly to 10 New Stock Picks of Billionaire Ray Dalio.

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

Number of Hedge Fund Holders: 52 

Ulta Beauty, Inc. (NASDAQ:ULTA) operates as a retailer of beauty products. Regulatory filings indicate that Bridgewater Associates owned over 1,000 shares of Ulta Beauty, Inc. (NASDAQ:ULTA) at the end of June 2022 worth $439,000, representing a small portion of the portfolio.  

On August 29, Barclays analyst Adrienne Yih maintained an Overweight rating on Ulta Beauty, Inc. (NASDAQ:ULTA) stock and raised the price target to $511 foim $491, appreciating the second quarter earnings beat of the firm. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Ulta Beauty, Inc. (NASDAQ:ULTA), with 701,400 shares worth more than $270 million. 

In its Q2 2022 investor letter,  ClearBridge Investments, an asset management firm, highlighted a few stocks and Ulta Beauty, Inc. (NASDAQ:ULTA) was one of them. Here is what the fund said:

“After seeding the portfolio with select growth companies in the second half of 2020 and 2021, we have redirected our focus over the last several quarters to risk management. Moves during the second quarter in pursuit of greater stability included reducing consumer discretionary exposure with the sale of omni-channel cosmetics retailer Ulta Beauty, Inc. (NASDAQ:ULTA).

We exited Ulta as our thesis has largely played out in terms of a post-COVID 19 earnings recovery. Ulta has steadily gained share over the last several years and its partnership with Target (TGT) represents a new avenue to gain customer loyalty. That being said, we are wary about the resilience of the consumer and the impact of labor cost inflation, which could crimp Ulta’s margin expansion in coming quarters. As with recent activity, the sale further reduces our consumer discretionary exposure and helps manage portfolio risk through an ongoing period of volatility.”

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