Bank of New York Mellon Corp Sells 61,034 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Bank of New York Mellon Corp decreased its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 802,985 shares of the specialty retailer’s stock after selling 61,034 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Sally Beauty worth $8,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBH. Lightrock Netherlands B.V. bought a new position in Sally Beauty during the fourth quarter worth about $9,413,000. FMR LLC increased its holdings in shares of Sally Beauty by 2.6% during the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after buying an additional 387,736 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sally Beauty by 306.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 341,465 shares of the specialty retailer’s stock valued at $4,634,000 after buying an additional 257,510 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sally Beauty by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock valued at $34,551,000 after purchasing an additional 80,712 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Sally Beauty in the third quarter valued at approximately $1,080,000.

Wall Street Analysts Forecast Growth

SBH has been the topic of several analyst reports. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley decreased their price objective on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group assumed coverage on shares of Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 target price for the company. Finally, DA Davidson reduced their target price on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Stock Up 1.8 %

Shares of SBH stock opened at $9.14 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.44 and a current ratio of 2.27. The firm’s 50-day moving average is $10.10 and its 200-day moving average is $11.84. The stock has a market cap of $931.35 million, a price-to-earnings ratio of 5.47 and a beta of 1.54. Sally Beauty Holdings, Inc. has a 52-week low of $8.52 and a 52-week high of $14.79.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $937.90 million for the quarter, compared to analysts’ expectations of $941.44 million. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. Sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

About Sally Beauty

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.