The Manufacturers Life Insurance Company Grows Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

The Manufacturers Life Insurance Company boosted its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,196 shares of the specialty retailer’s stock after purchasing an additional 1,395 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sally Beauty were worth $549,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SBH. Marshall Wace LLP purchased a new position in Sally Beauty during the second quarter worth $11,796,000. Dimensional Fund Advisors LP increased its position in Sally Beauty by 34.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock worth $35,276,000 after buying an additional 833,720 shares in the last quarter. Millennium Management LLC increased its position in Sally Beauty by 945.0% during the second quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock worth $9,099,000 after buying an additional 766,815 shares in the last quarter. Invenomic Capital Management LP increased its position in Sally Beauty by 96.8% during the first quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock worth $15,199,000 after buying an additional 601,903 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in Sally Beauty by 16.8% during the first quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock worth $46,339,000 after buying an additional 535,753 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBH. DA Davidson reissued a “neutral” rating and set a $12.00 price target on shares of Sally Beauty in a research report on Tuesday, August 13th. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Finally, Piper Sandler decreased their price objective on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Sally Beauty Price Performance

SBH stock opened at $12.73 on Wednesday. Sally Beauty Holdings, Inc. has a 52-week low of $7.30 and a 52-week high of $13.94. The stock’s fifty day simple moving average is $12.65 and its 200-day simple moving average is $11.56. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.66 and a beta of 1.53.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The firm had revenue of $942.30 million for the quarter, compared to analysts’ expectations of $931.77 million. During the same quarter last year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current year.

Sally Beauty Company Profile

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.