Great Lakes Advisors LLC acquired a new position in Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 331,464 shares of the specialty retailer’s stock, valued at approximately $4,687,000. Great Lakes Advisors LLC owned approximately 0.35% of Sally Beauty at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Sally Beauty in the second quarter worth about $223,172,000. Dimensional Fund Advisors LP boosted its position in shares of Sally Beauty by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,871,979 shares of the specialty retailer’s stock valued at $81,323,000 after purchasing an additional 202,020 shares in the last quarter. State Street Corp boosted its position in shares of Sally Beauty by 4.4% during the fourth quarter. State Street Corp now owns 4,606,736 shares of the specialty retailer’s stock valued at $65,692,000 after purchasing an additional 192,560 shares in the last quarter. Wasatch Advisors LP purchased a new stake in Sally Beauty in the third quarter worth $74,842,000. Finally, Goldman Sachs Group Inc. raised its holdings in Sally Beauty by 46.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,981,998 shares of the specialty retailer’s stock worth $56,783,000 after purchasing an additional 1,254,125 shares in the last quarter.
Sally Beauty Stock Performance
Shares of SBH stock opened at $16.70 on Thursday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 8.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.57 and a current ratio of 2.37. Sally Beauty Holdings, Inc. has a one year low of $11.54 and a one year high of $17.92. The company’s 50-day moving average is $14.92 and its 200 day moving average is $14.47.
Insider Buying and Selling
In other Sally Beauty news, CFO Marlo Michelle Cormier Platz sold 42,771 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $12.70, for a total transaction of $543,191.70. Following the transaction, the chief financial officer owned 138,145 shares in the company, valued at approximately $1,754,441.50. This represents a 23.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Sally Beauty from $16.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Sally Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. TD Cowen lifted their target price on shares of Sally Beauty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Sally Beauty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.40.
Read Our Latest Stock Report on Sally Beauty
About Sally Beauty
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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