Royce & Associates LP lowered its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 18.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 424,828 shares of the specialty retailer’s stock after selling 95,206 shares during the period. Royce & Associates LP owned approximately 0.35% of Sally Beauty worth $7,813,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in Sally Beauty by 331.4% during the 2nd quarter. KBC Group NV now owns 672,775 shares of the specialty retailer’s stock valued at $10,785,000 after purchasing an additional 516,826 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Sally Beauty by 432.6% in the 2nd quarter. Sei Investments Co. now owns 201,382 shares of the specialty retailer’s stock worth $3,228,000 after buying an additional 163,571 shares during the last quarter. Auxier Asset Management boosted its stake in shares of Sally Beauty by 14.2% in the 2nd quarter. Auxier Asset Management now owns 87,259 shares of the specialty retailer’s stock worth $1,399,000 after buying an additional 10,850 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Sally Beauty in the 2nd quarter worth approximately $2,145,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Sally Beauty by 36.2% in the 2nd quarter. Wells Fargo & Company MN now owns 761,155 shares of the specialty retailer’s stock worth $12,202,000 after buying an additional 202,471 shares during the last quarter.
In other news, CFO Aaron E. Alt acquired 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average price of $20.75 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the chief financial officer now owns 88,391 shares in the company, valued at $1,834,113.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott C. Sherman sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $21.72, for a total value of $67,332.00. Following the completion of the transaction, the senior vice president now owns 13,312 shares in the company, valued at approximately $289,136.64. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
Sally Beauty stock opened at $19.29 on Friday. Sally Beauty Holdings, Inc. has a 12 month low of $13.72 and a 12 month high of $23.61. The company has a market capitalization of $2.38 billion, a P/E ratio of 8.93, a PEG ratio of 1.80 and a beta of 0.20.
Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Sally Beauty had a negative return on equity of 82.55% and a net margin of 6.56%. The business had revenue of $966.00 million for the quarter, compared to the consensus estimate of $965.98 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. Sally Beauty’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that Sally Beauty Holdings, Inc. will post 2.22 EPS for the current year.
A number of equities analysts have recently weighed in on the company. ValuEngine downgraded Sally Beauty from a “hold” rating to a “sell” rating in a research note on Friday, November 23rd. Zacks Investment Research upgraded Sally Beauty from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, November 19th. DA Davidson boosted their target price on Sally Beauty to $19.00 and gave the stock a “neutral” rating in a research note on Friday, November 9th. Bank of America boosted their target price on Sally Beauty from $14.00 to $16.00 and gave the stock a “sell” rating in a research note on Thursday, October 4th. Finally, Jefferies Financial Group set a $15.00 target price on Sally Beauty and gave the stock a “sell” rating in a research note on Friday, November 9th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Sally Beauty currently has an average rating of “Hold” and a consensus target price of $17.22.
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Sally Beauty Profile
Sally Beauty Holdings, Inc, together with its subsidiaries, 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, skin and nail care, beauty sundries, and styling tools for retail customers and salon professionals.
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