Federated Hermes Inc. Sells 33,657 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Federated Hermes Inc. cut its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 35.2% in the 4th quarter, Holdings Channel reports. The firm owned 61,885 shares of the specialty retailer’s stock after selling 33,657 shares during the period. Federated Hermes Inc.’s holdings in Sally Beauty were worth $822,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC grew its position in shares of Sally Beauty by 9.8% in the 4th quarter. Ballentine Partners LLC now owns 11,716 shares of the specialty retailer’s stock worth $156,000 after buying an additional 1,043 shares during the period. WINTON GROUP Ltd grew its position in shares of Sally Beauty by 6.8% in the 3rd quarter. WINTON GROUP Ltd now owns 35,979 shares of the specialty retailer’s stock worth $302,000 after buying an additional 2,290 shares during the period. Rafferty Asset Management LLC grew its position in shares of Sally Beauty by 4.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 48,643 shares of the specialty retailer’s stock worth $408,000 after buying an additional 2,290 shares during the period. Swiss National Bank grew its position in shares of Sally Beauty by 1.2% in the 3rd quarter. Swiss National Bank now owns 236,500 shares of the specialty retailer’s stock worth $1,982,000 after buying an additional 2,800 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of Sally Beauty by 0.5% in the 3rd quarter. Gabelli Funds LLC now owns 595,000 shares of the specialty retailer’s stock worth $4,986,000 after buying an additional 3,000 shares during the period.

Sally Beauty Stock Performance

Shares of SBH stock opened at $10.59 on Thursday. Sally Beauty Holdings, Inc. has a one year low of $7.21 and a one year high of $14.23. The company’s 50-day moving average is $11.73 and its 200 day moving average is $11.35. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 6.74 and a beta of 1.46. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.45 and a current ratio of 2.20.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $931.30 million for the quarter, compared to the consensus estimate of $929.49 million. Sally Beauty had a net margin of 4.66% and a return on equity of 37.78%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. Sell-side analysts expect that Sally Beauty Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBH. TD Cowen reduced their target price on shares of Sally Beauty from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. DA Davidson upped their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Piper Sandler reduced their target price on shares of Sally Beauty from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Sally Beauty 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.