Alps Advisors Inc. acquired a new stake in shares of Prestige Brand Holdings, Inc. (NYSE:PBH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,331 shares of the company’s stock, valued at approximately $467,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in shares of Prestige Brand by 21.4% during the third quarter. Jennison Associates LLC now owns 497,621 shares of the company’s stock valued at $24,926,000 after buying an additional 87,590 shares during the period. Bessemer Group Inc. increased its position in Prestige Brand by 38.4% during the third quarter. Bessemer Group Inc. now owns 33,900 shares of the company’s stock worth $1,698,000 after purchasing an additional 9,400 shares during the last quarter. Pettee Investors Inc. acquired a new position in Prestige Brand during the third quarter worth approximately $562,000. Wesbanco Bank Inc. increased its position in Prestige Brand by 11.6% during the third quarter. Wesbanco Bank Inc. now owns 66,599 shares of the company’s stock worth $3,336,000 after purchasing an additional 6,927 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Prestige Brand by 5.6% during the third quarter. Prudential Financial Inc. now owns 106,043 shares of the company’s stock worth $5,312,000 after purchasing an additional 5,650 shares during the last quarter. 98.56% of the stock is currently owned by institutional investors and hedge funds.
PBH has been the subject of several research analyst reports. TD Securities reaffirmed a “buy” rating and set a $125.00 price target on shares of Prestige Brand in a research report on Thursday, November 23rd. BMO Capital Markets reissued a “buy” rating and issued a $118.00 price objective on shares of Prestige Brand in a research report on Thursday, November 23rd. KeyCorp set a $61.00 price objective on shares of Prestige Brand and gave the stock a “buy” rating in a research report on Monday, October 16th. DA Davidson set a $79.00 price objective on shares of Prestige Brand and gave the stock a “buy” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Prestige Brand from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $77.75.
Prestige Brand (NYSE:PBH) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.05). The firm had revenue of $258.00 million during the quarter, compared to the consensus estimate of $267.12 million. Prestige Brand had a net margin of 11.03% and a return on equity of 15.32%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. sell-side analysts anticipate that Prestige Brand Holdings, Inc. will post 2.62 EPS for the current fiscal year.
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About Prestige Brand
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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