State of Alaska Department of Revenue lowered its position in Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,091 shares of the specialty retailer's stock after selling 6,781 shares during the quarter. State of Alaska Department of Revenue's holdings in Sally Beauty were worth $933,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of Sally Beauty by 146.0% in the 2nd quarter. Assetmark Inc. now owns 2,423 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 1,438 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Sally Beauty by 1,882.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,458 shares of the specialty retailer's stock worth $29,000 after purchasing an additional 2,334 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Sally Beauty by 27.1% in the 2nd quarter. Captrust Financial Advisors now owns 6,402 shares of the specialty retailer's stock worth $76,000 after purchasing an additional 1,366 shares during the last quarter. Counterpoint Mutual Funds LLC increased its position in shares of Sally Beauty by 94.3% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 8,265 shares of the specialty retailer's stock worth $99,000 after purchasing an additional 4,011 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Sally Beauty by 18.3% in the 1st quarter. Royal Bank of Canada now owns 7,037 shares of the specialty retailer's stock worth $110,000 after purchasing an additional 1,091 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBH. DA Davidson lowered their price objective on shares of Sally Beauty from $14.50 to $11.50 and set a "neutral" rating for the company in a research report on Monday, November 14th. Morgan Stanley lowered their price objective on shares of Sally Beauty to $10.00 in a research report on Wednesday, November 16th. Piper Sandler began coverage on shares of Sally Beauty in a research report on Thursday, December 15th. They set an "overweight" rating and a $15.00 price objective for the company. Finally, StockNews.com downgraded shares of Sally Beauty from a "buy" rating to a "hold" rating in a research report on Monday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.10.

Sally Beauty Trading Up 4.9 %

Sally Beauty (NYSE:SBH – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The specialty retailer reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The company had revenue of $962.46 million during the quarter, compared to analyst estimates of $943.88 million. Sally Beauty had a net margin of 4.81% and a return on equity of 83.29%. As a group, analysts anticipate that Sally Beauty Holdings, Inc. will post 1.88 earnings per share for the current fiscal year.

Sally Beauty Profile

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Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply (SBS) and Beauty Systems Group (BSG). The SBS segment offers beauty products, including hair color and care products, styling tools, skin and nail care products, cosmetics, and other beauty products for retail customers and salon professionals through retail stores and digital platforms.

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