New York State Common Retirement Fund grew its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,100 shares of the specialty retailer’s stock after buying an additional 90,900 shares during the period. New York State Common Retirement Fund owned 0.44% of Sally Beauty worth $11,221,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SBH. Janus Henderson Group PLC bought a new stake in shares of Sally Beauty during the second quarter valued at about $179,760,000. Burgundy Asset Management Ltd. purchased a new position in shares of Sally Beauty during the second quarter worth about $51,787,000. Balyasny Asset Management LLC grew its holdings in shares of Sally Beauty by 3,189.1% during the second quarter. Balyasny Asset Management LLC now owns 1,849,439 shares of the specialty retailer’s stock worth $37,451,000 after purchasing an additional 1,793,210 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Sally Beauty during the second quarter worth about $24,431,000. Finally, Nordea Investment Management AB grew its holdings in shares of Sally Beauty by 24.7% during the second quarter. Nordea Investment Management AB now owns 6,057,114 shares of the specialty retailer’s stock worth $122,657,000 after purchasing an additional 1,200,950 shares in the last quarter.
Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) opened at $17.80 on Wednesday. The stock has a market capitalization of $2,281.27, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.67 and a beta of 0.66. The company has a debt-to-equity ratio of -4.87, a current ratio of 2.04 and a quick ratio of 0.42. Sally Beauty Holdings, Inc. has a 52 week low of $14.05 and a 52 week high of $27.30.
Sally Beauty announced that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 40.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, Director Edward W. Rabin bought 3,750 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average price of $15.49 per share, with a total value of $58,087.50. Following the completion of the purchase, the director now directly owns 14,351 shares in the company, valued at $222,296.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.
SBH has been the subject of several recent analyst reports. Robert W. Baird set a $24.00 price objective on Sally Beauty and gave the stock a “buy” rating in a report on Tuesday, November 14th. DA Davidson raised Sally Beauty from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, October 16th. Cowen reissued a “buy” rating and set a $24.00 price objective on shares of Sally Beauty in a report on Thursday, September 28th. Zacks Investment Research lowered Sally Beauty from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Finally, KeyCorp reissued a “hold” rating on shares of Sally Beauty in a report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.82.
Sally Beauty Company 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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