Jim Cramer Discussed These 18 Stocks After Major AI Event

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

Number of Hedge Fund Holders In Q3 2024: 40

Ulta Beauty, Inc. (NASDAQ:ULTA) is an American retailer that sells branded and other beauty products. Like other beauty companies, its shares haven’t performed well as they are down by 13% year-to-date. Ulta Beauty, Inc. (NASDAQ:ULTA) has struggled with slow demand for its pricier products, but the shares gained 3% in January after the firm announced that its chief operating officer Kecia Steelman would become its CEO. Here’s what Cramer had to say about the appointment at Ulta Beauty, Inc. (NASDAQ:ULTA):

“Ms. Steelman is just fantastic. This has been a terrific time, Mr. Kimball did a good job, in an area, and I want to point this out cause people they say well I have a chart, I don’t know. This area has been so under fire, the cosmetics area has been terrible. Look at Estee Lauder, one of the worst stocks that I’ve ever seen. If you look at ELF there’s a battle ground there. They’ve had competition from Sephora, which is open and close. David if you went with me to my Sephora, you would say holy cow it’s a totally changed store.

“So what I’m seeing here is a smooth transition from Kimball, to Steelman, and a better than expected holiday season. So this is a natural to buy. The fact that it is only up eighteen, I know that, that seems like a lot, but not when it comes to a raised forecast and a new CEO. Dave did a great job 11 years ago, fantastic, he spent a lot of time with me, he’s a great manager. Before that was Mary Dillon. And she did a great job. . . .But I like Ulta here, I like the new CEO, I like the old CEO, and I love upsides and positives for the holidays.”