Sally Beauty Holdings, Inc. (NYSE:SBH) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 306.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,465 shares of the specialty retailer’s stock after buying an additional 257,510 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Sally Beauty worth $4,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBH. Quarry LP boosted its position in Sally Beauty by 369.3% during the 3rd quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 2,345 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Sally Beauty during the third quarter valued at about $64,000. nVerses Capital LLC acquired a new stake in Sally Beauty in the third quarter worth about $94,000. Algert Global LLC bought a new position in Sally Beauty in the 2nd quarter valued at about $113,000. Finally, Evergreen Capital Management LLC grew its position in Sally Beauty by 19.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 2,169 shares in the last quarter.

Insiders Place Their Bets

In other news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the sale, the chief accounting officer now owns 16,685 shares of the company’s stock, valued at $242,433.05. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott C. Sherman sold 13,500 shares of Sally Beauty stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the transaction, the insider now owns 42,431 shares in the company, valued at $614,825.19. This represents a 24.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group began coverage on shares of Sally Beauty in a research note on Thursday. They issued a “buy” rating and a $14.00 price target for the company. DA Davidson upped their target price on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Morgan Stanley upped their price objective on Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sally Beauty has an average rating of “Hold” and an average price target of $13.60.

Sally Beauty Price Performance

NYSE SBH opened at $11.27 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 7.82 and a beta of 1.56. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The business’s fifty day moving average is $12.21 and its two-hundred day moving average is $12.22. Sally Beauty Holdings, Inc. has a 1 year low of $9.06 and a 1 year high of $14.79.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $935.88 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Sally Beauty’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

Sally Beauty 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.