Bank of New York Mellon Corp lowered its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,071,808 shares of the specialty retailer’s stock after selling 26,104 shares during the period. Bank of New York Mellon Corp owned 1.00% of Sally Beauty worth $13,237,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SBH. Royal Bank of Canada increased its holdings in shares of Sally Beauty by 143.5% during the 3rd quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 1,289 shares during the last quarter. State of Wyoming acquired a new position in shares of Sally Beauty during the 4th quarter worth approximately $32,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Sally Beauty by 101.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,125 shares of the specialty retailer’s stock worth $63,000 after acquiring an additional 2,583 shares during the last quarter. UBS Group AG increased its holdings in shares of Sally Beauty by 101.2% during the 1st quarter. UBS Group AG now owns 5,008 shares of the specialty retailer’s stock worth $78,000 after acquiring an additional 423,610 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Sally Beauty by 34.2% during the 1st quarter. Captrust Financial Advisors now owns 5,036 shares of the specialty retailer’s stock worth $79,000 after acquiring an additional 1,282 shares during the last quarter.
Analyst Ratings Changes
SBH has been the topic of a number of recent analyst reports. DA Davidson decreased their target price on Sally Beauty from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, August 16th. Morgan Stanley decreased their target price on Sally Beauty from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday. Piper Sandler decreased their target price on Sally Beauty from $15.00 to $11.00 in a report on Tuesday, October 10th. Finally, StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.50.
Sally Beauty Stock Performance
Shares of NYSE SBH opened at $9.11 on Thursday. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.12 and a quick ratio of 0.36. The stock’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $10.48. Sally Beauty Holdings, Inc. has a one year low of $7.21 and a one year high of $18.42. The firm has a market cap of $981.78 million, a price-to-earnings ratio of 6.11 and a beta of 1.41.
Sally Beauty (NYSE:SBH – Get Free Report) last released its earnings results on Tuesday, November 14th. The specialty retailer reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). The company had revenue of $912.40 million for the quarter, compared to analyst estimates of $930.35 million. Sally Beauty had a return on equity of 52.92% and a net margin of 4.33%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.87 EPS for the current year.
Sally Beauty Company Profile
Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.
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