JPMorgan Chase & Co. lifted its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 65,740.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 393,069 shares of the specialty retailer’s stock after buying an additional 392,472 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of Sally Beauty worth $7,884,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in shares of Sally Beauty during the 2nd quarter worth approximately $179,760,000. Nordea Investment Management AB increased its holdings in shares of Sally Beauty by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,169,915 shares of the specialty retailer’s stock valued at $120,807,000 after acquiring an additional 112,801 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Sally Beauty by 10.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 5,666,809 shares of the specialty retailer’s stock valued at $110,956,000 after acquiring an additional 518,520 shares during the period. State Street Corp increased its holdings in shares of Sally Beauty by 0.4% in the 2nd quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock valued at $81,789,000 after acquiring an additional 14,768 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Sally Beauty by 3.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,565,526 shares of the specialty retailer’s stock valued at $50,233,000 after acquiring an additional 85,660 shares during the period.
Sally Beauty Holdings, Inc. (NYSE SBH) opened at $18.71 on Wednesday. The company has a debt-to-equity ratio of -4.87, a current ratio of 2.04 and a quick ratio of 0.42. The stock has a market cap of $2,400.00, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.74 and a beta of 0.66. Sally Beauty Holdings, Inc. has a 12 month low of $14.05 and a 12 month high of $26.98.
Sally Beauty declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 40.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently commented on SBH shares. Morgan Stanley cut shares of Sally Beauty from an “equal weight” rating to an “underweight” rating in a report on Wednesday, November 8th. Robert W. Baird set a $24.00 target price on shares of Sally Beauty and gave the company a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research cut shares of Sally Beauty from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Cowen reaffirmed a “buy” rating and issued a $24.00 target price on shares of Sally Beauty in a report on Thursday, September 28th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty in a report on Friday, November 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.55.
In other news, Director Edward W. Rabin acquired 3,750 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were bought at an average cost of $15.49 per share, with a total value of $58,087.50. Following the purchase, the director now owns 14,351 shares of the company’s stock, valued at approximately $222,296.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.48% of the company’s stock.
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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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