BlackRock Advisors LLC Decreases Stake in Prestige Brands Holdings Inc. (PBH)
BlackRock Advisors LLC lowered its stake in Prestige Brands Holdings Inc. (NYSE:PBH) by 7.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 448,589 shares of the company’s stock after selling 37,426 shares during the period. BlackRock Advisors LLC owned about 0.85% of Prestige Brands Holdings worth $24,852,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of Prestige Brands Holdings by 20.0% in the first quarter. Aperio Group LLC now owns 12,757 shares of the company’s stock valued at $681,000 after buying an additional 2,129 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Prestige Brands Holdings during the first quarter valued at about $731,000. Pacad Investment Ltd. purchased a new position in shares of Prestige Brands Holdings during the first quarter valued at about $483,000. TIAA CREF Investment Management LLC increased its position in Prestige Brands Holdings by 6.8% in the first quarter. TIAA CREF Investment Management LLC now owns 283,032 shares of the company’s stock valued at $15,111,000 after buying an additional 18,016 shares during the last quarter. Finally, Teachers Advisors Inc. increased its position in Prestige Brands Holdings by 29.8% in the first quarter. Teachers Advisors Inc. now owns 334,904 shares of the company’s stock valued at $17,881,000 after buying an additional 76,839 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Prestige Brands Holdings Inc. (NYSE:PBH) opened at 48.22 on Friday. The stock has a market cap of $2.55 billion, a P/E ratio of 37.35 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. The firm’s 50-day moving average price is $48.30 and its 200-day moving average price is $52.91.
Prestige Brands Holdings (NYSE:PBH) last released its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm earned $209.60 million during the quarter, compared to the consensus estimate of $208.18 million. Prestige Brands Holdings had a return on equity of 16.50% and a net margin of 8.28%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Prestige Brands Holdings Inc. will post $2.34 earnings per share for the current fiscal year.
PBH has been the subject of several recent research reports. Jefferies Group reissued a “sell” rating on shares of Prestige Brands Holdings in a research report on Monday, August 1st. Zacks Investment Research raised Prestige Brands Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. B. Riley reissued a “buy” rating and set a $70.00 price target on shares of Prestige Brands Holdings in a research report on Wednesday, July 6th. Piper Jaffray Cos. reaffirmed an “outperform” rating on shares of Prestige Brands Holdings in a research report on Friday, July 15th. Finally, Sidoti raised Prestige Brands Holdings from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, August 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Prestige Brands Holdings has a consensus rating of “Buy” and an average target price 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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