Legal & General Group Plc Sells 91,541 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Legal & General Group Plc cut its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 19.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 372,670 shares of the specialty retailer’s stock after selling 91,541 shares during the quarter. Legal & General Group Plc owned 0.33% of Sally Beauty worth $8,225,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Sally Beauty by 22.7% in the 2nd quarter. Bank of Montreal Can now owns 38,535 shares of the specialty retailer’s stock valued at $842,000 after acquiring an additional 7,118 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Sally Beauty in the 2nd quarter valued at about $869,000. Deutsche Bank AG increased its stake in shares of Sally Beauty by 40.8% in the 2nd quarter. Deutsche Bank AG now owns 136,649 shares of the specialty retailer’s stock valued at $3,016,000 after acquiring an additional 39,601 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Sally Beauty by 19.7% in the 2nd quarter. Principal Financial Group Inc. now owns 2,855,842 shares of the specialty retailer’s stock valued at $63,028,000 after acquiring an additional 470,115 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Sally Beauty in the 2nd quarter valued at about $594,000.

A number of analysts recently issued reports on SBH shares. Zacks Investment Research cut Sally Beauty from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research note on Tuesday, August 3rd. Cowen raised Sally Beauty from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Tuesday, June 22nd. Morgan Stanley lowered their target price on Sally Beauty from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, August 2nd. Oppenheimer raised Sally Beauty from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, June 22nd. Finally, Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Tuesday, July 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.50.

NYSE:SBH opened at $15.72 on Thursday. Sally Beauty Holdings, Inc. has a twelve month low of $8.27 and a twelve month high of $25.66. The company has a quick ratio of 0.61, a current ratio of 2.04 and a debt-to-equity ratio of 6.22. The business has a 50 day moving average price of $17.54 and a two-hundred day moving average price of $19.83. The company has a market cap of $1.78 billion, a P/E ratio of 7.42 and a beta of 1.62.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Wednesday, July 28th. The specialty retailer reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Sally Beauty had a return on equity of 230.45% and a net margin of 6.30%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $985.22 million. As a group, analysts anticipate that Sally Beauty Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

In other news, CEO Christian A. Brickman purchased 10,000 shares of Sally Beauty stock in a transaction on Monday, August 2nd. The stock was purchased at an average price of $18.92 per share, with a total value of $189,200.00. Following the transaction, the chief executive officer now directly owns 471,136 shares in the company, valued at approximately $8,913,893.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the following segments: Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment is an open-line and exclusive-label distributor of professional beauty supplies to both retail consumers and salon professionals primarily in North America, South America, and Europe.

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Institutional Ownership by Quarter for Sally Beauty (NYSE:SBH)

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