Allianz Asset Management GmbH Acquires 223,257 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Key Points

• Allianz Asset Management GmbH increased its stake in Sally Beauty Holdings by 32.5%, acquiring an additional 223,257 shares in the first quarter, bringing its total holdings to 909,204 shares.
• Sally Beauty reported $0.42 earnings per share, exceeding analysts' expectations, but experienced a revenue decline of 2.8% compared to the same quarter last year.
• Wall Street analysts have adjusted their ratings on Sally Beauty, with a consensus rating of "Hold" and a price target set at $12.63.

Allianz Asset Management GmbH grew its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 32.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 909,204 shares of the specialty retailer's stock after buying an additional 223,257 shares during the quarter. Allianz Asset Management GmbH owned 0.89% of Sally Beauty worth $8,210,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Sally Beauty during the first quarter valued at approximately $309,000. GAMMA Investing LLC grew its stake in shares of Sally Beauty by 8,210.4% during the first quarter. GAMMA Investing LLC now owns 42,549 shares of the specialty retailer's stock valued at $384,000 after buying an additional 42,037 shares during the last quarter. Millennium Management LLC grew its stake in shares of Sally Beauty by 1,177.7% during the fourth quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after buying an additional 1,047,199 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sally Beauty by 19.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 293,866 shares of the specialty retailer's stock valued at $3,071,000 after buying an additional 47,246 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Sally Beauty by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 12,428,715 shares of the specialty retailer's stock worth $129,880,000 after purchasing an additional 279,222 shares in the last quarter.

Sally Beauty Stock Up 2.1%

Shares of NYSE:SBH opened at $10.34 on Friday. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $14.79. The stock has a market cap of $1.04 billion, a P/E ratio of 5.81 and a beta of 1.26. The business's 50 day moving average is $9.28 and its 200 day moving average is $9.27. The company has a quick ratio of 0.44, a current ratio of 2.32 and a debt-to-equity ratio of 1.29.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The specialty retailer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $883.15 million for the quarter, compared to analysts' expectations of $901.00 million. Sally Beauty had a return on equity of 29.48% and a net margin of 5.03%. Sally Beauty's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.63.

Sally Beauty Company 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.

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