Jennison Associates LLC Invests $553,000 in Sally Beauty Holdings, Inc. (NYSE:SBH)

Jennison Associates LLC acquired a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,951 shares of the specialty retailer’s stock, valued at approximately $553,000.

Several other hedge funds also recently modified their holdings of SBH. The Manufacturers Life Insurance Company increased its holdings in shares of Sally Beauty by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock valued at $549,000 after purchasing an additional 1,395 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Sally Beauty in the second quarter valued at approximately $113,000. Creative Planning increased its holdings in shares of Sally Beauty by 10.7% in the second quarter. Creative Planning now owns 34,697 shares of the specialty retailer’s stock valued at $372,000 after purchasing an additional 3,341 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Sally Beauty in the third quarter valued at approximately $94,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Sally Beauty by 3.2% in the third quarter. GSA Capital Partners LLP now owns 147,407 shares of the specialty retailer’s stock valued at $2,000,000 after purchasing an additional 4,525 shares in the last quarter.

Wall Street Analysts Forecast Growth

SBH has been the subject of a number of research reports. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Monday, November 25th. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. Morgan Stanley lowered their price target on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. DA Davidson upped their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.20.

Sally Beauty Stock Performance

Shares of Sally Beauty stock opened at $9.77 on Friday. The firm has a fifty day moving average of $11.45 and a two-hundred day moving average of $12.20. The stock has a market capitalization of $995.38 million, a price-to-earnings ratio of 6.78 and a beta of 1.55. Sally Beauty Holdings, Inc. has a 52 week low of $9.06 and a 52 week high of $14.79. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $935.88 million. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Sally Beauty Holdings, Inc. will post 1.84 EPS for the current year.

Insider Activity

In other news, CAO Kim Mcintosh sold 4,300 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the transaction, the chief accounting officer now owns 16,685 shares of the company’s stock, valued at $242,433.05. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott C. Sherman sold 13,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.49, for a total transaction of $195,615.00. Following the completion of the transaction, the insider now directly owns 42,431 shares of the company’s stock, valued at $614,825.19. This trade represents a 24.14 % decrease in their position. The disclosure for this sale can be found here. 1.56% of the stock is owned by company insiders.

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.