BlackRock Inc. boosted its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,570,535 shares of the specialty retailer’s stock after buying an additional 56,444 shares during the quarter. BlackRock Inc. owned approximately 15.54% of Sally Beauty worth $296,062,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Islay Capital Management LLC boosted its holdings in shares of Sally Beauty by 24.8% during the third quarter. Islay Capital Management LLC now owns 5,902 shares of the specialty retailer’s stock worth $99,000 after acquiring an additional 1,174 shares during the period. Pinz Capital Management LP bought a new stake in shares of Sally Beauty during the second quarter worth approximately $137,000. 6 Meridian bought a new stake in shares of Sally Beauty during the third quarter worth approximately $182,000. Caxton Associates LP bought a new stake in shares of Sally Beauty during the second quarter worth approximately $215,000. Finally, Royal Bank of Canada boosted its holdings in shares of Sally Beauty by 268.4% during the second quarter. Royal Bank of Canada now owns 10,364 shares of the specialty retailer’s stock worth $228,000 after acquiring an additional 7,551 shares during the period.
A number of equities research analysts have recently issued reports on the company. Oppenheimer reduced their price objective on Sally Beauty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, November 4th. Zacks Investment Research upgraded Sally Beauty from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Tuesday, November 16th. Finally, Morgan Stanley boosted their price target on Sally Beauty from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $24.20.
Shares of SBH stock opened at $18.08 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 0.77 and a debt-to-equity ratio of 4.92. The stock has a market cap of $2.04 billion, a P/E ratio of 8.65 and a beta of 1.46. The stock has a 50 day simple moving average of $19.17 and a 200 day simple moving average of $18.47. Sally Beauty Holdings, Inc. has a 1 year low of $14.06 and a 1 year high of $25.66.
Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, November 11th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.12. Sally Beauty had a return on equity of 148.76% and a net margin of 6.19%. The business had revenue of $990.26 million during the quarter, compared to analysts’ expectations of $971.72 million. During the same period in the previous year, the company posted $0.63 earnings per share. Analysts forecast that Sally Beauty Holdings, Inc. will post 2.59 EPS for the current year.
In other Sally Beauty news, Director Susan R. Mulder sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 26th. The shares were sold at an average price of $20.14, for a total transaction of $100,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan R. Mulder sold 2,901 shares of the business’s stock in a transaction that occurred on Thursday, December 9th. The shares were sold at an average price of $21.00, for a total transaction of $60,921.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,401 shares of company stock valued at $319,171. Company insiders own 1.74% of the company’s stock.
Sally Beauty Company Profile
Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the Sally Beauty Supply (SBS) and Beauty Systems Group (BSG) segments. The SBS segment offers domestic and international chain of retail stores and a consumer-facing e-commerce website that offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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