Amundi Increases Stock Position in Sally Beauty Holdings, Inc. $SBH

Key Points

• Amundi increased its stake in Sally Beauty Holdings by 35.6%, acquiring an additional 84,693 shares, bringing its total holdings to 322,393 shares worth approximately $2.68 million.
• The stock of Sally Beauty rose by 4.3% recently, with a current market cap of $1.51 billion and a PE ratio of 8.20.
• Several hedge funds have notably increased their positions in Sally Beauty, including Royal Bank of Canada, which boosted its stake by over 150,000% in the first quarter.

Amundi increased its position in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,393 shares of the specialty retailer's stock after buying an additional 84,693 shares during the period. Amundi owned 0.32% of Sally Beauty worth $2,682,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Sally Beauty by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer's stock valued at $31,000 after acquiring an additional 1,735 shares during the period. Parallel Advisors LLC grew its position in Sally Beauty by 536.4% in the 1st quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 3,304 shares during the period. GAMMA Investing LLC grew its position in Sally Beauty by 820.3% in the 1st quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 4,200 shares during the period. CWM LLC grew its position in Sally Beauty by 123.7% in the 1st quarter. CWM LLC now owns 8,949 shares of the specialty retailer's stock valued at $81,000 after purchasing an additional 4,948 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Sally Beauty in the 1st quarter valued at $100,000.

Insider Buying and Selling at Sally Beauty

In other news, CEO Denise Paulonis acquired 4,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $11.74 per share, for a total transaction of $52,830.00. Following the completion of the purchase, the chief executive officer owned 366,865 shares in the company, valued at approximately $4,306,995.10. This trade represents a 1.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Max R. Rangel purchased 3,500 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were purchased at an average cost of $14.07 per share, for a total transaction of $49,245.00. Following the transaction, the director directly owned 3,500 shares in the company, valued at approximately $49,245. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,500 shares of company stock worth $132,125 over the last three months. 1.56% of the stock is currently owned by insiders.

Sally Beauty Stock Up 1.6%

Sally Beauty stock traded up $0.24 during midday trading on Wednesday, hitting $15.30. 2,487,947 shares of the stock were exchanged, compared to its average volume of 2,385,451. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $15.92. The business's 50-day moving average price is $12.34 and its 200-day moving average price is $10.01. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 8.23 and a beta of 1.38. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.09. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%.The firm had revenue of $933.31 million for the quarter, compared to the consensus estimate of $928.78 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company's revenue was down 1.0% compared to the same quarter last year. Sally Beauty has set its FY 2025 guidance at EPS. On average, research analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Cowen reiterated a "buy" rating on shares of Sally Beauty in a report on Thursday, September 4th. TD Cowen lifted their price objective on shares of Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Canaccord Genuity Group lifted their price target on Sally Beauty from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Monday. Zacks Research upgraded Sally Beauty from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Wall Street Zen raised Sally Beauty from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.88.

About Sally Beauty

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.