Sally Magnificence Holdings, Inc. (NYSE:SBH) Holdings Lowered by Principal Monetary Group Inc.

Daily SF NewsMay 23, 2024

0 2 3 minutes read

Principal Financial Group Inc. lessened its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,368,622 shares of the specialty retailer’s stock after selling 23,737 shares during the period. Principal Financial Group Inc. owned 1.30% of Sally Beauty worth $18,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Sally Beauty by 92.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,872 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 4,747 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Sally Beauty in the third quarter valued at approximately $555,000. Barclays PLC increased its stake in shares of Sally Beauty by 75.3% during the third quarter. Barclays PLC now owns 74,699 shares of the specialty retailer’s stock valued at $626,000 after acquiring an additional 32,076 shares during the period. New York State Common Retirement Fund raised its holdings in Sally Beauty by 23.6% during the third quarter. New York State Common Retirement Fund now owns 447,523 shares of the specialty retailer’s stock worth $3,750,000 after purchasing an additional 85,379 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in Sally Beauty in the third quarter worth approximately $3,399,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBH. Piper Sandler lowered their price target on Sally Beauty from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. TD Cowen decreased their target price on Sally Beauty from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Finally, DA Davidson boosted their price target on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.00.

View Our Latest Report on SBH

Sally Beauty Price Performance

Shares of NYSE:SBH opened at $11.00 on Thursday. The company has a market capitalization of $1.14 billion, a PE ratio of 7.48 and a beta of 1.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.37 and a current ratio of 1.99. The stock has a fifty day moving average of $11.18 and a 200-day moving average of $11.61. Sally Beauty Holdings, Inc. has a one year low of $7.21 and a one year high of $13.91.

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

Sally Beauty Company Profile

(Free Report)

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.