State Street Corp Sells 76,317 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

State Street Corp decreased its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,387,812 shares of the specialty retailer’s stock after selling 76,317 shares during the quarter. State Street Corp’s holdings in Sally Beauty were worth $59,543,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Marshall Wace LLP bought a new position in Sally Beauty during the second quarter valued at about $11,796,000. Dimensional Fund Advisors LP raised its stake in shares of Sally Beauty by 34.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after purchasing an additional 833,720 shares in the last quarter. Millennium Management LLC lifted its position in Sally Beauty by 945.0% in the second quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock worth $9,099,000 after purchasing an additional 766,815 shares during the period. FMR LLC boosted its stake in Sally Beauty by 2.6% during the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after buying an additional 387,736 shares in the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Sally Beauty by 141.3% in the 2nd quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock valued at $2,816,000 after buying an additional 153,707 shares during the period.

Sally Beauty Stock Down 1.4 %

NYSE SBH opened at $12.12 on Thursday. The stock has a fifty day moving average of $13.03 and a 200-day moving average of $12.22. The stock has a market capitalization of $1.23 billion, a P/E ratio of 8.42 and a beta of 1.51. Sally Beauty Holdings, Inc. has a 52 week low of $9.06 and a 52 week high of $14.79. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $935.88 million. During the same quarter last year, the business earned $0.42 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Sally Beauty Holdings, Inc. will post 1.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SBH shares. DA Davidson lifted their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Monday, November 25th. Morgan Stanley raised their target price on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Finally, Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.50.

Insider Buying and Selling at Sally Beauty

In other news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total transaction of $62,479.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,685 shares of the company’s stock, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott C. Sherman sold 13,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.49, for a total transaction of $195,615.00. Following the transaction, the insider now owns 42,431 shares of the company’s stock, valued at $614,825.19. The trade was a 24.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

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.