Dimensional Fund Advisors LP Raises Position in Sally Beauty Holdings, Inc. (SBH)
Dimensional Fund Advisors LP lifted its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 75.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,409,898 shares of the specialty retailer’s stock after purchasing an additional 608,282 shares during the period. Dimensional Fund Advisors LP owned 1.02% of Sally Beauty Holdings worth $28,551,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of SBH. BlackRock Inc. increased its holdings in shares of Sally Beauty Holdings by 13,327.3% in the first quarter. BlackRock Inc. now owns 11,424,731 shares of the specialty retailer’s stock valued at $233,521,000 after purchasing an additional 11,339,645 shares in the last quarter. Victory Capital Management Inc. bought a new position in Sally Beauty Holdings in the second quarter valued at approximately $24,431,000. Nordea Investment Management AB boosted its stake in Sally Beauty Holdings by 24.7% in the second quarter. Nordea Investment Management AB now owns 6,057,114 shares of the specialty retailer’s stock valued at $122,657,000 after acquiring an additional 1,200,950 shares during the last quarter. Renaissance Technologies LLC bought a new position in Sally Beauty Holdings in the first quarter valued at approximately $11,336,000. Finally, Vanguard Group Inc. boosted its stake in Sally Beauty Holdings by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,330,251 shares of the specialty retailer’s stock valued at $231,591,000 after acquiring an additional 501,039 shares during the last quarter.
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A number of brokerages have issued reports on SBH. Zacks Investment Research cut shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty Holdings in a research note on Monday, October 16th. DA Davidson raised shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, October 16th. Cowen and Company reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Sally Beauty Holdings in a research note on Thursday, September 28th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Sally Beauty Holdings in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.00.
Sally Beauty Holdings (NYSE:SBH) last posted its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The company had revenue of $998.04 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Sally Beauty Holdings’s revenue for the quarter was up .0% compared to the same quarter last year.
Sally Beauty Holdings declared that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 40.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Edward W. Rabin bought 4,250 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $18.06 per share, with a total value of $76,755.00. Following the completion of the purchase, the director now directly owns 16,653 shares in the company, valued at $300,753.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christian A. Brickman bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average cost of $17.54 per share, for a total transaction of $350,800.00. Following the completion of the purchase, the chief executive officer now owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 34,250 shares of company stock valued at $606,555. 0.97% of the stock is currently owned by corporate insiders.
Sally Beauty Holdings Profile
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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