Principal Financial Group Inc. cut its position in shares of Prestige Brands Holdings Inc. (NYSE:PBH) by 20.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 716,969 shares of the company’s stock after selling 181,326 shares during the period. Principal Financial Group Inc. owned about 1.35% of Prestige Brands Holdings worth $39,720,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Neuberger Berman Group LLC increased its position in shares of Prestige Brands Holdings by 2,891.6% in the second quarter. Neuberger Berman Group LLC now owns 1,229,729 shares of the company’s stock worth $68,127,000 after buying an additional 1,188,623 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Prestige Brands Holdings during the second quarter worth approximately $31,803,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of Prestige Brands Holdings during the second quarter worth approximately $23,558,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Prestige Brands Holdings by 17.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,947,306 shares of the company’s stock worth $103,967,000 after buying an additional 288,445 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Prestige Brands Holdings by 243.3% in the first quarter. Panagora Asset Management Inc. now owns 359,392 shares of the company’s stock worth $19,188,000 after buying an additional 254,717 shares during the last quarter. Institutional investors own 98.10% of the company’s stock.

Prestige Brands Holdings Inc. (NYSE:PBH) traded up 0.08% during midday trading on Tuesday, reaching $47.31. The company’s stock had a trading volume of 66,528 shares. The firm has a 50-day moving average price of $48.76 and a 200 day moving average price of $53.02. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 36.65 and a beta of 1.64. Prestige Brands Holdings Inc. has a 52-week low of $43.40 and a 52-week high of $58.09.

Prestige Brands Holdings (NYSE:PBH) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Prestige Brands Holdings had a net margin of 8.28% and a return on equity of 16.50%. The firm earned $209.60 million during the quarter, compared to analyst estimates of $208.18 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Prestige Brands Holdings Inc. will post $2.35 EPS for the current fiscal year.

PBH has been the subject of a number of research reports. Sidoti upgraded Prestige Brands Holdings from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Friday, August 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded Prestige Brands Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Jefferies Group reiterated a “sell” rating on shares of Prestige Brands Holdings in a research report on Monday, August 1st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $60.00 price objective on shares of Prestige Brands Holdings in a research report on Wednesday, July 6th. Finally, B. Riley reiterated a “focus list” rating and set a $70.00 price objective on shares of Prestige Brands Holdings in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Prestige Brands Holdings currently has a consensus rating of “Buy” and an average price target of $59.67.

About Prestige Brands Holdings

Prestige Brands Holdings, Inc is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning products. The Company operates through three segments: North American Over-the-Counter (OTC) Healthcare; International Over-the-Counter Healthcare, and Household Cleaning.

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