The Manufacturers Life Insurance Company lowered its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,963 shares of the specialty retailer’s stock after selling 4,989 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of Sally Beauty Holdings worth $4,090,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Sally Beauty Holdings by 13,327.3% in the first quarter. BlackRock Inc. now owns 11,424,731 shares of the specialty retailer’s stock valued at $233,521,000 after purchasing an additional 11,339,645 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sally Beauty Holdings by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,330,251 shares of the specialty retailer’s stock valued at $231,591,000 after purchasing an additional 501,039 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Sally Beauty Holdings in the second quarter valued at approximately $179,760,000. Nordea Investment Management AB increased its holdings in shares of Sally Beauty Holdings by 24.7% in the second quarter. Nordea Investment Management AB now owns 6,057,114 shares of the specialty retailer’s stock valued at $122,657,000 after purchasing an additional 1,200,950 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Sally Beauty Holdings by 0.4% in the second quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock valued at $81,789,000 after purchasing an additional 14,768 shares in the last quarter.

In other Sally Beauty Holdings news, Director Edward W. Rabin purchased 4,250 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $18.06 per share, for a total transaction of $76,755.00. Following the transaction, the director now owns 16,653 shares in the company, valued at approximately $300,753.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christian A. Brickman purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $17.90 per share, with a total value of $179,000.00. Following the completion of the transaction, the chief executive officer now owns 172,543 shares in the company, valued at approximately $3,088,519.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 34,250 shares of company stock valued at $606,555. Corporate insiders own 0.97% of the company’s stock.

A number of brokerages recently weighed in on SBH. KeyCorp reissued a “hold” rating on shares of Sally Beauty Holdings in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 18th. BMO Capital Markets set a $21.00 price target on shares of Sally Beauty Holdings and gave the company a “hold” rating in a report on Saturday, August 5th. BidaskClub raised shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, DA Davidson raised shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.67.

Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $998.04 million during the quarter, compared to the consensus estimate of $1 billion. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS.

Sally Beauty Holdings declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 31st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 40.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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Sally Beauty Holdings 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.

Institutional Ownership by Quarter for Sally Beauty Holdings (NYSE:SBH)

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