California Public Employees Retirement System boosted its stake in shares of Prestige Brands Holdings, Inc. (NYSE:PBH) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,902 shares of the company’s stock after buying an additional 7,202 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Prestige Brands worth $6,156,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Prestige Brands by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the company’s stock valued at $110,000 after purchasing an additional 205 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Prestige Brands by 90.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,222 shares of the company’s stock valued at $117,000 after purchasing an additional 1,055 shares during the last quarter. Advisor Group Inc. boosted its stake in Prestige Brands by 33.2% during the 2nd quarter. Advisor Group Inc. now owns 2,285 shares of the company’s stock valued at $120,000 after purchasing an additional 570 shares during the last quarter. Zions Bancorporation purchased a new stake in Prestige Brands during the 3rd quarter valued at $165,000. Finally, Riverhead Capital Management LLC boosted its stake in Prestige Brands by 78.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,394 shares of the company’s stock valued at $179,000 after purchasing an additional 1,494 shares during the last quarter. 98.56% of the stock is owned by institutional investors.
Several brokerages have commented on PBH. Jefferies Group reiterated a “hold” rating and set a $55.00 target price (up from $54.00) on shares of Prestige Brands in a research note on Monday, October 2nd. Zacks Investment Research upgraded Prestige Brands from a “sell” rating to a “hold” rating in a research note on Thursday. William Blair upgraded Prestige Brands from a “market perform” rating to an “outperform” rating in a research note on Monday, December 4th. TD Securities restated a “buy” rating and issued a $125.00 price target on shares of Prestige Brands in a research note on Thursday, November 23rd. Finally, DA Davidson restated a “buy” rating and issued a $79.00 price target on shares of Prestige Brands in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $77.75.
Prestige Brands (NYSE:PBH) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.05). Prestige Brands had a return on equity of 15.32% and a net margin of 11.03%. The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $267.12 million. During the same quarter last year, the business earned $0.63 earnings per share. The business’s quarterly revenue was up 19.9% on a year-over-year basis. research analysts predict that Prestige Brands Holdings, Inc. will post 2.62 earnings per share for the current year.
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About Prestige Brands
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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