State Street Corp Lowers Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

State Street Corp reduced its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,387,812 shares of the specialty retailer's stock after selling 76,317 shares during the period. State Street Corp owned approximately 4.27% of Sally Beauty worth $59,543,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

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

Sally Beauty Trading Down 2.1 %

Shares of SBH traded down $0.26 during mid-day trading on Thursday, reaching $11.86. 1,758,206 shares of the company were exchanged, compared to its average volume of 1,432,003. The business has a 50 day simple moving average of $13.01 and a two-hundred day simple moving average of $12.22. Sally Beauty Holdings, Inc. has a 52 week low of $9.06 and a 52 week high of $14.79. The stock has a market capitalization of $1.21 billion, a PE ratio of 8.24 and a beta of 1.51. 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 - Get Free Report) last issued its quarterly 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 net margin of 4.13% and a return on equity of 31.37%. The firm had revenue of $935.00 million for the quarter, compared to the consensus estimate of $935.88 million. During the same quarter in the previous year, the company earned $0.42 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Transactions at Sally Beauty

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

Sally Beauty Profile

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.