New York State Common Retirement Fund Purchases 23,623 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

New York State Common Retirement Fund increased its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,628 shares of the specialty retailer’s stock after buying an additional 23,623 shares during the quarter. New York State Common Retirement Fund owned 0.25% of Sally Beauty worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lightrock Netherlands B.V. lifted its position in Sally Beauty by 65.0% during the first quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer’s stock valued at $13,380,000 after purchasing an additional 583,000 shares during the period. Principal Financial Group Inc. raised its holdings in Sally Beauty by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 560,363 shares of the specialty retailer’s stock valued at $5,060,000 after buying an additional 14,513 shares during the period. Diversified Trust Co bought a new position in shares of Sally Beauty during the first quarter valued at approximately $250,000. Golden State Wealth Management LLC raised its stake in shares of Sally Beauty by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Sally Beauty in the 1st quarter worth approximately $1,042,000.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.63.

Sally Beauty Stock Performance

Shares of SBH stock opened at $10.28 on Thursday. The stock has a fifty day moving average price of $9.22 and a 200 day moving average price of $9.28. The stock has a market cap of $1.04 billion, a PE ratio of 5.78 and a beta of 1.26. Sally Beauty Holdings, Inc. has a 1 year low of $7.54 and a 1 year high of $14.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.44 and a current ratio of 2.32.

Sally Beauty (NYSE:SBH) last posted its earnings results on Monday, May 12th. The specialty retailer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $883.15 million for the quarter, compared to analyst estimates of $901.00 million. Sally Beauty had a net margin of 5.03% and a return on equity of 29.48%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

About Sally Beauty

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.