Northern Trust Corp Lowers Stock Holdings in 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 reduced its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing 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 approximately 1.27% of Sally Beauty worth $11,715,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SBH. Millennium Management LLC raised its stake in shares of Sally Beauty by 1,177.7% in the fourth quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after acquiring an additional 1,047,199 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Sally Beauty in the first quarter valued at $8,600,000. CenterBook Partners LP raised its stake in shares of Sally Beauty by 359.3% in the first quarter. CenterBook Partners LP now owns 961,230 shares of the specialty retailer's stock valued at $8,680,000 after acquiring an additional 751,943 shares in the last quarter. Ranmore Fund Management Ltd raised its stake in shares of Sally Beauty by 74.2% in the first quarter. Ranmore Fund Management Ltd now owns 1,420,000 shares of the specialty retailer's stock valued at $12,823,000 after acquiring an additional 605,000 shares in the last quarter. Finally, Lightrock Netherlands B.V. raised its stake in shares of Sally Beauty by 65.0% in the first quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer's stock valued at $13,380,000 after acquiring an additional 583,000 shares in the last quarter.

Sally Beauty Stock Performance

Shares of SBH traded up $0.01 during midday trading on Wednesday, reaching $14.65. 2,807,751 shares of the stock were exchanged, compared to its average volume of 2,192,414. The business's 50-day moving average price is $11.82 and its 200 day moving average price is $9.80. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.41 and a quick ratio of 0.49. Sally Beauty Holdings, Inc. has a twelve month low of $7.54 and a twelve month high of $14.79. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.87 and a beta of 1.38.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 EPS 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 business had revenue of $933.31 million for the quarter, compared to analysts' expectations of $928.78 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business'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, sell-side analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

Insider Transactions at Sally Beauty

In other news, Director Diana Sue Ferguson bought 2,500 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were acquired at an average price of $12.02 per share, for a total transaction of $30,050.00. Following the completion of the transaction, the director owned 7,912 shares of the company's stock, valued at approximately $95,102.24. This trade represents a 46.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Denise Paulonis bought 4,500 shares of the business's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $11.74 per share, for a total transaction of $52,830.00. Following the transaction, the chief executive officer directly owned 366,865 shares of the company's stock, valued at approximately $4,306,995.10. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 10,500 shares of company stock worth $132,125. Corporate insiders own 1.56% of the company's stock.

Analyst Ratings Changes

SBH has been the topic of several analyst reports. Wall Street Zen cut Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Zacks Research upgraded Sally Beauty from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Cowen restated a "buy" rating on shares of Sally Beauty in a research note on Thursday, September 4th. TD Cowen raised their price target on Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Finally, Canaccord Genuity Group raised their price target on Sally Beauty from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.88.

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.