Allianz Asset Management AG reduced its stake in shares of Prestige Brands Holdings, Inc. (NYSE:PBH) by 88.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,465 shares of the company’s stock after selling 49,718 shares during the period. Allianz Asset Management AG’s holdings in Prestige Brands Holdings were worth $337,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. LS Investment Advisors LLC boosted its stake in Prestige Brands Holdings by 6.3% in the third quarter. LS Investment Advisors LLC now owns 3,703 shares of the company’s stock valued at $179,000 after buying an additional 221 shares during the period. B. Riley Financial Inc. bought a new stake in Prestige Brands Holdings during the third quarter worth approximately $219,000. Bank of Montreal Can boosted its stake in Prestige Brands Holdings by 35.6% in the third quarter. Bank of Montreal Can now owns 4,876 shares of the company’s stock worth $236,000 after buying an additional 1,279 shares during the last quarter. Sei Investments Co. boosted its stake in Prestige Brands Holdings by 96.4% in the third quarter. Sei Investments Co. now owns 6,189 shares of the company’s stock worth $299,000 after buying an additional 3,038 shares during the last quarter. Finally, Princeton Alpha Management LP bought a new stake in Prestige Brands Holdings during the third quarter worth approximately $304,000. 97.35% of the stock is owned by institutional investors and hedge funds.
Prestige Brands Holdings, Inc. (NYSE:PBH) traded down 0.29% during mid-day trading on Friday, hitting $55.86. 303,078 shares of the stock traded hands. The company’s 50 day moving average price is $56.46 and its 200-day moving average price is $52.16. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 41.35 and a beta of 1.56. Prestige Brands Holdings, Inc. has a 1-year low of $44.64 and a 1-year high of $59.63.
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PBH has been the subject of a number of analyst reports. Jefferies Group LLC reiterated an “underperform” rating and set a $42.00 price objective on shares of Prestige Brands Holdings in a report on Friday, December 23rd. B. Riley reissued a “buy” rating and set a $77.00 price target (up from $70.00) on shares of Prestige Brands Holdings in a research report on Friday, December 23rd. Finally, Zacks Investment Research raised shares of Prestige Brands Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, December 29th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $62.17.
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.
