Hsbc Holdings PLC acquired a new stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 186,293 shares of the specialty retailer’s stock, valued at approximately $2,587,000. Hsbc Holdings PLC owned 0.19% of Sally Beauty as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Sally Beauty by 150,390.9% in the 1st quarter. Royal Bank of Canada now owns 33,108 shares of the specialty retailer’s stock valued at $299,000 after buying an additional 33,086 shares during the last quarter. AQR Capital Management LLC increased its position in Sally Beauty by 53.7% in the first quarter. AQR Capital Management LLC now owns 476,966 shares of the specialty retailer’s stock worth $4,188,000 after purchasing an additional 166,637 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sally Beauty by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,595 shares of the specialty retailer’s stock worth $547,000 after purchasing an additional 2,026 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sally Beauty by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,906 shares of the specialty retailer’s stock worth $2,934,000 after purchasing an additional 31,040 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Sally Beauty by 21.7% in the 2nd quarter. Invesco Ltd. now owns 1,788,951 shares of the specialty retailer’s stock valued at $16,566,000 after purchasing an additional 319,025 shares during the last quarter.
Sally Beauty Stock Performance
SBH opened at $14.62 on Friday. The business’s 50-day simple moving average is $13.66 and its 200 day simple moving average is $14.40. Sally Beauty Holdings, Inc. has a 52-week low of $9.36 and a 52-week high of $17.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.55 and a current ratio of 2.34. The firm has a market capitalization of $1.39 billion, a PE ratio of 8.08 and a beta of 1.02.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Weiss Ratings cut shares of Sally Beauty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. TD Cowen lowered their target price on shares of Sally Beauty from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Morgan Stanley dropped their price objective on Sally Beauty from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.
Read Our Latest Report on Sally Beauty
Insider Transactions at Sally Beauty
In other news, CFO Marlo Michelle Cormier Platz sold 42,771 shares of Sally Beauty stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $12.70, for a total value of $543,191.70. Following the completion of the transaction, the chief financial officer owned 138,145 shares of the company’s stock, valued at $1,754,441.50. This trade represents a 23.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.
Sally Beauty Company Profile
Sally Beauty Holdings, Inc is a leading global specialty retailer and distributor of professional beauty supplies, serving both retail customers and salon professionals. The company operates two primary channels: Sally Beauty Supply, which offers a broad assortment of hair color, hair care, styling, and skincare products; and Beauty Systems Group (BSG), which provides salon-quality products and supplies to professional stylists and salon owners. With a focus on catering to diverse customer needs, Sally Beauty offers well-known brands alongside private label lines, positioning itself as a one-stop source for beauty professionals and enthusiasts alike.
Founded in 1964 and headquartered in Denton, Texas, Sally Beauty has grown through a combination of organic expansion and strategic acquisitions.
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