Sally Beauty Holdings, Inc. (NYSE:SBH) Holdings Trimmed by Raymond James & Associates

Raymond James & Associates decreased its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,612 shares of the specialty retailer's stock after selling 100,881 shares during the period. Raymond James & Associates owned 0.22% of Sally Beauty worth $3,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in shares of Sally Beauty by 8.2% during the first quarter. Empowered Funds LLC now owns 292,836 shares of the specialty retailer's stock valued at $3,637,000 after acquiring an additional 22,159 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Sally Beauty by 6.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 64,575 shares of the specialty retailer's stock valued at $802,000 after purchasing an additional 3,800 shares during the period. Sei Investments Co. increased its stake in shares of Sally Beauty by 9.1% in the first quarter. Sei Investments Co. now owns 196,569 shares of the specialty retailer's stock valued at $2,441,000 after purchasing an additional 16,314 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Sally Beauty by 51.9% during the first quarter. Russell Investments Group Ltd. now owns 47,181 shares of the specialty retailer's stock valued at $586,000 after buying an additional 16,120 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Sally Beauty by 7.1% during the first quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer's stock worth $268,000 after buying an additional 1,426 shares during the period.

Sally Beauty Price Performance

Sally Beauty stock traded down $0.01 during midday trading on Tuesday, hitting $12.91. The company's stock had a trading volume of 1,042,873 shares, compared to its average volume of 1,346,694. The stock's 50-day moving average price is $12.90 and its 200-day moving average price is $11.74. The company has a market capitalization of $1.33 billion, a PE ratio of 9.43 and a beta of 1.53. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. Sally Beauty Holdings, Inc. has a 12 month low of $8.12 and a 12 month high of $13.94.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $942.30 million for the quarter, compared to analyst estimates of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson restated a "neutral" rating and issued a $12.00 target price on shares of Sally Beauty in a research report on Tuesday, August 13th. Piper Sandler cut their price objective on shares of Sally Beauty from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com upgraded shares of Sally Beauty from a "hold" rating to a "buy" rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.00.

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.