Northern Trust Corp Sells 40,749 Shares of Sally Beauty Holdings, Inc. $SBH

Key Points

• Northern Trust Corp reduced its stake in Sally Beauty Holdings by 3.0% in Q1, now holding approximately 1.27% of the company's shares valued at $11.7 million.
• Sally Beauty reported a quarterly earnings per share (EPS) of $0.51, exceeding analysts' expectations of $0.42, but experienced a 1.0% year-over-year decline in revenue.
• An analyst upgrade from Canaccord Genuity raised the target price of Sally Beauty shares from $14.00 to $15.00, indicating a positive outlook for the company.

Northern Trust Corp lowered its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,297,338 shares of the specialty retailer's stock after selling 40,749 shares during the period. Northern Trust Corp owned about 1.27% of Sally Beauty worth $11,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SBH. Golden State Wealth Management LLC raised its position in Sally Beauty by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer's stock worth $31,000 after acquiring an additional 1,735 shares during the last quarter. Parallel Advisors LLC raised its position in Sally Beauty by 536.4% during the first quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 3,304 shares during the last quarter. GAMMA Investing LLC raised its position in Sally Beauty by 820.3% during the first quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer's stock worth $43,000 after acquiring an additional 4,200 shares during the last quarter. CWM LLC raised its position in Sally Beauty by 123.7% during the first quarter. CWM LLC now owns 8,949 shares of the specialty retailer's stock worth $81,000 after acquiring an additional 4,948 shares during the last quarter. Finally, TradeLink Capital LLC acquired a new position in Sally Beauty during the first quarter worth about $136,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBH. TD Cowen boosted their price objective on shares of Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Sally Beauty from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Zacks Research raised shares of Sally Beauty from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Canaccord Genuity Group boosted their price objective on shares of Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Cowen reaffirmed a "buy" rating on shares of Sally Beauty in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.88.

Sally Beauty Trading Down 2.2%

SBH traded down $0.33 during trading on Wednesday, hitting $14.32. 679,460 shares of the company's stock were exchanged, compared to its average volume of 2,135,390. The company has a current ratio of 2.41, a quick ratio of 0.49 and a debt-to-equity ratio of 1.16. Sally Beauty Holdings, Inc. has a 1 year low of $7.54 and a 1 year high of $14.79. The stock has a 50 day moving average price of $11.73 and a 200 day moving average price of $9.77. The firm has a market cap of $1.42 billion, a P/E ratio of 7.70 and a beta of 1.38.

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, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $933.31 million during the quarter, compared to the consensus estimate of $928.78 million. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. Sally Beauty has set its FY 2025 guidance at EPS. As a group, analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

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, with a total value of $52,830.00. Following the acquisition, the chief executive officer directly owned 366,865 shares in the company, valued at approximately $4,306,995.10. The trade was a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Max R. Rangel bought 3,500 shares of the stock in a transaction on Thursday, September 4th. The shares were bought at an average cost of $14.07 per share, for a total transaction of $49,245.00. Following the purchase, the director owned 3,500 shares in the company, valued at $49,245. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 10,500 shares of company stock valued at $132,125 in the last quarter. Company insiders own 1.56% of the company's stock.

Sally Beauty 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.