New York State Common Retirement Fund grew its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) by 23.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 447,523 shares of the specialty retailer’s stock after acquiring an additional 85,379 shares during the period. New York State Common Retirement Fund’s holdings in Sally Beauty were worth $3,750,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Sally Beauty by 143.5% in the third quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer’s stock worth $28,000 after buying an additional 1,289 shares in the last quarter. US Bancorp DE raised its stake in Sally Beauty by 126.7% in the second quarter. US Bancorp DE now owns 2,346 shares of the specialty retailer’s stock worth $29,000 after buying an additional 1,311 shares in the last quarter. State of Wyoming bought a new position in Sally Beauty in the fourth quarter worth approximately $32,000. UBS Group AG raised its stake in Sally Beauty by 101.2% in the first quarter. UBS Group AG now owns 5,008 shares of the specialty retailer’s stock worth $78,000 after buying an additional 423,610 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Sally Beauty by 34.2% in the first quarter. Captrust Financial Advisors now owns 5,036 shares of the specialty retailer’s stock worth $79,000 after buying an additional 1,282 shares in the last quarter.
Insiders Place Their Bets
In related news, CEO Denise Paulonis purchased 4,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were bought at an average cost of $11.29 per share, with a total value of $45,160.00. Following the transaction, the chief executive officer now owns 170,826 shares of the company’s stock, valued at $1,928,625.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by insiders.
Sally Beauty Price Performance
Sally Beauty (NYSE:SBH – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $931.30 million for the quarter, compared to the consensus estimate of $929.49 million. Sally Beauty had a return on equity of 37.78% and a net margin of 4.66%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Research analysts expect that Sally Beauty Holdings, Inc. will post 1.87 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. DA Davidson upped their price target on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Morgan Stanley reduced their price target on Sally Beauty from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 15th. Finally, StockNews.com downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st.
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.
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