PNC Financial Services Group Inc. Raises Stake in Sally Beauty Holdings, Inc. $SBH

PNC Financial Services Group Inc. boosted its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 23.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,490 shares of the specialty retailer’s stock after purchasing an additional 3,095 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sally Beauty were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jupiter Asset Management Ltd. increased its stake in shares of Sally Beauty by 9.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,876,396 shares of the specialty retailer’s stock valued at $16,944,000 after acquiring an additional 160,599 shares during the last quarter. TradeLink Capital LLC purchased a new position in Sally Beauty in the 1st quarter worth approximately $136,000. Readystate Asset Management LP purchased a new position in Sally Beauty in the 1st quarter worth approximately $1,676,000. Allianz Asset Management GmbH boosted its holdings in Sally Beauty by 32.5% in the 1st quarter. Allianz Asset Management GmbH now owns 909,204 shares of the specialty retailer’s stock worth $8,210,000 after acquiring an additional 223,257 shares during the period. Finally, Denali Advisors LLC purchased a new position in Sally Beauty in the 1st quarter worth approximately $389,000.

Insider Activity

In other Sally Beauty news, Director Diana Sue Ferguson bought 2,500 shares of the stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $12.02 per share, with a total value of $30,050.00. Following the purchase, the director directly owned 7,912 shares in the company, valued at $95,102.24. The trade was a 46.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Denise Paulonis purchased 4,500 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $11.74 per share, with a total value of $52,830.00. Following the purchase, the chief executive officer owned 366,865 shares in the company, valued at $4,306,995.10. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.56% of the company’s stock.

Sally Beauty Price Performance

NYSE:SBH opened at $13.32 on Tuesday. The business’s 50-day moving average price is $10.15 and its 200 day moving average price is $9.30. The firm has a market cap of $1.32 billion, a P/E ratio of 7.16 and a beta of 1.30. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $14.79. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%. The business had revenue of $933.31 million during the quarter, compared to analyst estimates of $928.78 million. During the same quarter last year, the company posted $0.45 EPS. Sally Beauty’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBH. Wall Street Zen cut Sally Beauty from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Canaccord Genuity Group raised their price target on Sally Beauty from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.88.

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.