Stifel Financial Corp decreased its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 45.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,549 shares of the specialty retailer’s stock after selling 30,028 shares during the quarter. Stifel Financial Corp’s holdings in Sally Beauty Holdings were worth $740,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. US Bancorp DE increased its stake in Sally Beauty Holdings by 227.6% in the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 3,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sally Beauty Holdings by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 559 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Sally Beauty Holdings by 37.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock worth $158,000 after acquiring an additional 2,125 shares during the last quarter. M&T Bank Corp grew its position in shares of Sally Beauty Holdings by 0.6% during the second quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 65 shares during the last quarter. Finally, Creative Planning grew its position in shares of Sally Beauty Holdings by 7.6% during the second quarter. Creative Planning now owns 10,959 shares of the specialty retailer’s stock worth $222,000 after acquiring an additional 773 shares during the last quarter.
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Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) traded down $0.10 on Friday, hitting $16.21. The company’s stock had a trading volume of 2,396,400 shares, compared to its average volume of 2,223,565. The company has a debt-to-equity ratio of -5.07, a quick ratio of 0.43 and a current ratio of 2.18. The firm has a market cap of $2,142.71, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.66. Sally Beauty Holdings, Inc. has a one year low of $14.22 and a one year high of $30.17.
Sally Beauty Holdings declared that its Board of Directors has approved a share buyback program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 40.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, CEO Christian A. Brickman purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $17.54 per share, with a total value of $350,800.00. Following the transaction, the chief executive officer now owns 182,543 shares in the company, valued at approximately $3,201,804.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward W. Rabin purchased 4,250 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of $18.06 per share, for a total transaction of $76,755.00. Following the completion of the transaction, the director now owns 16,653 shares in the company, valued at approximately $300,753.18. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 34,250 shares of company stock worth $606,555. Corporate insiders own 0.97% of the company’s stock.
SBH has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 18th. DA Davidson reissued a “buy” rating and issued a $23.00 target price on shares of Sally Beauty Holdings in a report on Monday, July 24th. BidaskClub raised Sally Beauty Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets set a $21.00 price target on Sally Beauty Holdings and gave the stock a “hold” rating in a research note on Saturday, August 5th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $20.00 price target (down previously from $21.50) on shares of Sally Beauty Holdings in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.00.
About Sally Beauty Holdings
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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