Municipal Employees Retirement System of Michigan Sells 4,090 Shares of Prestige Brand Holdings, Inc. (PBH)

Municipal Employees Retirement System of Michigan cut its position in Prestige Brand Holdings, Inc. (NYSE:PBH) by 16.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,440 shares of the company’s stock after selling 4,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Prestige Brand Holdings were worth $1,079,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new stake in Prestige Brand Holdings during the second quarter worth approximately $406,000. Boston Advisors LLC boosted its stake in Prestige Brand Holdings by 36.1% in the second quarter. Boston Advisors LLC now owns 99,509 shares of the company’s stock worth $5,255,000 after buying an additional 26,401 shares in the last quarter. ING Groep NV bought a new stake in Prestige Brand Holdings during the second quarter worth approximately $340,000. Oakbrook Investments LLC bought a new stake in Prestige Brand Holdings during the second quarter worth approximately $206,000. Finally, State Treasurer State of Michigan boosted its stake in Prestige Brand Holdings by 1.4% in the second quarter. State Treasurer State of Michigan now owns 21,800 shares of the company’s stock worth $1,151,000 after buying an additional 300 shares in the last quarter. 98.19% of the stock is currently owned by hedge funds and other institutional investors.

Prestige Brand Holdings, Inc. (NYSE:PBH) opened at 51.47 on Friday. The firm has a 50-day moving average price of $52.12 and a 200-day moving average price of $54.08. The company has a market cap of $2.73 billion, a P/E ratio of 25.42 and a beta of 1.18. Prestige Brand Holdings, Inc. has a 12-month low of $44.64 and a 12-month high of $59.63.

Prestige Brand Holdings (NYSE:PBH) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The business had revenue of $256.57 million for the quarter, compared to the consensus estimate of $255.64 million. Prestige Brand Holdings had a return on equity of 16.06% and a net margin of 11.70%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts forecast that Prestige Brand Holdings, Inc. will post $2.64 earnings per share for the current fiscal year.

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A number of research firms have recently commented on PBH. Zacks Investment Research cut Prestige Brand Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub raised Prestige Brand Holdings from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $54.00 price objective on shares of Prestige Brand Holdings in a research report on Friday, July 14th. Raymond James Financial, Inc. raised Prestige Brand Holdings from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research report on Monday, May 22nd. Finally, UBS Group AG raised Prestige Brand Holdings from a “market perform” rating to an “outperform” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Prestige Brand Holdings has an average rating of “Buy” and a consensus target price of $63.71.

Prestige Brand Holdings Company Profile

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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Institutional Ownership by Quarter for Prestige Brand Holdings (NYSE:PBH)

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