Maryland State Retirement & Pension System Sells 1,703 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Maryland State Retirement & Pension System cut its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,091 shares of the specialty retailer’s stock after selling 1,703 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sally Beauty were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SBH. Wasatch Advisors LP boosted its position in Sally Beauty by 16.8% during the 1st quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock worth $46,339,000 after acquiring an additional 535,753 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Sally Beauty by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,242,861 shares of the specialty retailer’s stock worth $29,785,000 after purchasing an additional 131,603 shares during the last quarter. Lazard Asset Management LLC grew its position in Sally Beauty by 303.7% in the first quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock valued at $5,339,000 after purchasing an additional 323,438 shares in the last quarter. Profit Investment Management LLC acquired a new stake in Sally Beauty in the 1st quarter valued at $1,737,000. Finally, Victory Capital Management Inc. lifted its position in Sally Beauty by 8,891.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer’s stock worth $37,238,000 after buying an additional 2,772,915 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBH. Piper Sandler lowered their target price on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com lowered Sally Beauty from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, DA Davidson reissued a “neutral” rating and issued a $12.00 price objective on shares of Sally Beauty in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sally Beauty has an average rating of “Hold” and a consensus price target of $11.00.

Sally Beauty Trading Down 2.1 %

Sally Beauty stock opened at $12.77 on Wednesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12. The stock has a 50-day simple moving average of $11.44 and a 200 day simple moving average of $11.46. The stock has a market capitalization of $1.31 billion, a P/E ratio of 8.69 and a beta of 1.54. Sally Beauty Holdings, Inc. has a 52 week low of $7.21 and a 52 week high of $13.91.

Sally Beauty (NYSE:SBH) last posted its earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The business had revenue of $942.30 million for the quarter, compared to analyst estimates of $931.77 million. During the same period in the previous year, the firm earned $0.49 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Analysts expect that Sally Beauty Holdings, Inc. will post 1.66 earnings per share 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.