Principal Financial Group Inc. Sells 925,486 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Principal Financial Group Inc. cut its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 64.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,699 shares of the specialty retailer’s stock after selling 925,486 shares during the period. Principal Financial Group Inc.’s holdings in Sally Beauty were worth $5,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Sally Beauty by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 58,959 shares of the specialty retailer’s stock valued at $783,000 after buying an additional 814 shares during the period. Diversified Trust Co increased its position in shares of Sally Beauty by 2.7% during the second quarter. Diversified Trust Co now owns 33,948 shares of the specialty retailer’s stock valued at $364,000 after buying an additional 898 shares during the period. ProShare Advisors LLC increased its position in shares of Sally Beauty by 7.1% during the first quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 1,426 shares during the period. DGS Capital Management LLC increased its position in shares of Sally Beauty by 4.3% during the first quarter. DGS Capital Management LLC now owns 43,743 shares of the specialty retailer’s stock valued at $543,000 after buying an additional 1,810 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Sally Beauty by 168.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock valued at $60,000 after buying an additional 2,829 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com cut shares of Sally Beauty from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, DA Davidson restated a “neutral” rating and issued a $12.00 price objective on shares of Sally Beauty in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Sally Beauty presently has an average rating of “Hold” and an average target price of $11.00.

Sally Beauty Stock Down 2.1 %

SBH stock opened at $11.69 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69. The company’s 50 day moving average is $11.55 and its 200 day moving average is $11.42. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 7.95 and a beta of 1.54. Sally Beauty Holdings, Inc. has a 1-year low of $7.21 and a 1-year high of $13.91.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $942.30 million for the quarter, compared to analysts’ expectations of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. Sally Beauty’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current fiscal year.

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.