Acadian Asset Management LLC increased its position in shares of Prestige Brands Holdings, Inc. (NYSE:PBH) by 97.6% in the fourth quarter, HoldingsChannel reports. The firm owned 534,722 shares of the company’s stock after acquiring an additional 264,057 shares during the quarter. Acadian Asset Management LLC’s holdings in Prestige Brands were worth $23,746,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of PBH. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Prestige Brands by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the company’s stock valued at $110,000 after acquiring an additional 205 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Prestige Brands by 90.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,222 shares of the company’s stock valued at $117,000 after acquiring an additional 1,055 shares during the last quarter. Advisor Group Inc. lifted its position in Prestige Brands by 33.2% in the second quarter. Advisor Group Inc. now owns 2,285 shares of the company’s stock valued at $120,000 after acquiring an additional 570 shares during the last quarter. Zions Bancorporation purchased a new stake in Prestige Brands in the third quarter valued at $165,000. Finally, Riverhead Capital Management LLC lifted its position in Prestige Brands by 78.6% in the second quarter. Riverhead Capital Management LLC now owns 3,394 shares of the company’s stock valued at $179,000 after acquiring an additional 1,494 shares during the last quarter.
A number of equities research analysts recently weighed in on PBH shares. DA Davidson reissued a “buy” rating and issued a $79.00 price target on shares of Prestige Brands in a research report on Monday, December 18th. TD Securities reissued a “buy” rating and issued a $125.00 price target on shares of Prestige Brands in a research report on Thursday, November 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $118.00 target price on shares of Prestige Brands in a report on Thursday, November 23rd. KeyCorp set a $61.00 target price on shares of Prestige Brands and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Zacks Investment Research raised shares of Prestige Brands from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $77.75.
Prestige Brands (NYSE:PBH) last announced its earnings results on Thursday, November 2nd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $267.12 million. Prestige Brands had a net margin of 11.03% and a return on equity of 15.32%. Prestige Brands’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. sell-side analysts anticipate that Prestige Brands Holdings, Inc. will post 2.62 EPS for the current fiscal 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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