State of Alaska Department of Revenue Has $793,000 Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

State of Alaska Department of Revenue trimmed its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 3.6% during the first quarter, HoldingsChannel reports. The fund owned 63,894 shares of the specialty retailer’s stock after selling 2,407 shares during the period. State of Alaska Department of Revenue’s holdings in Sally Beauty were worth $793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBH. Wasatch Advisors LP acquired a new stake in Sally Beauty in the 4th quarter valued at $42,433,000. Victory Capital Management Inc. increased its stake in Sally Beauty by 8,891.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer’s stock valued at $37,238,000 after buying an additional 2,772,915 shares during the last quarter. Schroder Investment Management Group increased its stake in Sally Beauty by 53.6% in the 4th quarter. Schroder Investment Management Group now owns 5,532,978 shares of the specialty retailer’s stock valued at $73,478,000 after buying an additional 1,931,188 shares during the last quarter. Polaris Capital Management LLC increased its stake in Sally Beauty by 56.5% in the 4th quarter. Polaris Capital Management LLC now owns 2,712,129 shares of the specialty retailer’s stock valued at $36,017,000 after buying an additional 979,271 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Sally Beauty by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,732,079 shares of the specialty retailer’s stock valued at $115,075,000 after buying an additional 780,329 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on SBH. TD Cowen lowered their price target on shares of Sally Beauty from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Piper Sandler decreased their price objective on shares of Sally Beauty from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. One 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 company. According to data from MarketBeat.com, Sally Beauty has an average rating of “Hold” and an average price target of $12.00.

Sally Beauty Stock Performance

Shares of SBH opened at $10.59 on Wednesday. The firm has a 50-day moving average of $10.99 and a 200-day moving average of $11.78. Sally Beauty Holdings, Inc. has a one year low of $7.21 and a one year high of $13.91. The company has a market cap of $1.10 billion, a PE ratio of 7.20 and a beta of 1.54. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.99 and a quick ratio of 0.37.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, May 9th. The specialty retailer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). The company had revenue of $908.36 million for the quarter, compared to the consensus estimate of $910.72 million. Sally Beauty had a return on equity of 34.23% and a net margin of 4.36%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. As a group, equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.69 earnings per share for the current 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.