The Louisiana State Employees Retirement System Lowers Stake in Prestige Brands Holdings Inc. (PBH)

The Louisiana State Employees Retirement System Lowers Stake in Prestige Brands Holdings Inc. (PBH)

Louisiana State Employees Retirement System reduced its stake in Prestige Brands Holdings Inc. (NYSE:PBH) by 2.1% during the third quarter, Holdings Channel reports. The institutional investor owned 13,700 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Prestige Brands Holdings were worth $661,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Prestige Brands Holdings by 0.8% in the second quarter. Vanguard Group Inc. now owns 4,699,484 shares of the company’s stock valued at $260,351,000 after buying an additional 39,292 shares in the last quarter. Teacher Retirement System of Texas increased its position in Prestige Brands Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 7,405 shares of the company’s stock valued at $410,000 after buying an additional 898 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Prestige Brands Holdings by 1.1% in the second quarter. UBS Asset Management Americas Inc. now owns 35,441 shares of the company’s stock valued at $1,964,000 after buying an additional 393 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Prestige Brands Holdings during the second quarter valued at $23,558,000. Finally, Oxford Asset Management increased its position in Prestige Brands Holdings by 21.8% in the second quarter. Oxford Asset Management now owns 108,927 shares of the company’s stock valued at $6,035,000 after buying an additional 19,509 shares in the last quarter. 97.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Prestige Brands Holdings Inc. (NYSE:PBH) traded down 0.29% during midday trading on Thursday, hitting $51.72. 245,181 shares of the company’s stock were exchanged. Prestige Brands Holdings Inc. has a one year low of $43.63 and a one year high of $58.09. The stock’s 50-day moving average price is $50.25 and its 200 day moving average price is $49.64. The firm has a market cap of $2.74 billion, a PE ratio of 40.09 and a beta of 1.60.

Prestige Brands Holdings (NYSE:PBH) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Prestige Brands Holdings had a net margin of 8.24% and a return on equity of 16.27%. The business had revenue of $215.10 million for the quarter, compared to analyst estimates of $78.04 million. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Prestige Brands Holdings Inc. will post $2.34 EPS for the current year.

Several equities research analysts recently issued reports on the stock. B. Riley restated a “buy” rating and set a $77.00 price objective (up from $70.00) on shares of Prestige Brands Holdings in a research report on Wednesday, December 28th. Zacks Investment Research upgraded shares of Prestige Brands Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, December 29th. Gabelli assumed coverage on shares of Prestige Brands Holdings in a research report on Thursday, November 17th. They set a “buy” rating and a $65.00 price objective for the company. TheStreet upgraded shares of Prestige Brands Holdings from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th. Finally, Jefferies Group restated an “underperform” rating and set a $42.00 price objective on shares of Prestige Brands Holdings in a research report on Friday, December 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Prestige Brands Holdings has a consensus rating of “Buy” and an average target price of $61.00.

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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