Allspring Global Investments Holdings LLC Reduces Stock Position in Prestige Consumer Healthcare Inc. $PBH

Key Points

• Allspring Global Investments reduced its stake in Prestige Consumer Healthcare by 3.4% in the first quarter, selling 55,356 shares and leaving it with 1,558,104 shares valued at about $89.9 million.
• Prestige Consumer Healthcare recently missed earnings and revenue expectations, reporting $1.23 EPS versus $1.39 expected and revenue of $281.62 million versus $293.64 million, with sales down 5% year over year.
• Wall Street sentiment has softened, with multiple analysts cutting ratings or price targets; the stock now carries a consensus Hold rating and an average target price of $70.75.

Allspring Global Investments Holdings LLC cut its holdings in Prestige Consumer Healthcare Inc. (NYSE:PBH - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,558,104 shares of the company's stock after selling 55,356 shares during the period. Allspring Global Investments Holdings LLC owned 3.29% of Prestige Consumer Healthcare worth $89,871,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Prestige Consumer Healthcare by 10.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 650,793 shares of the company's stock valued at $40,147,000 after buying an additional 60,496 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Prestige Consumer Healthcare by 547.4% during the fourth quarter. Nordea Investment Management AB now owns 615,215 shares of the company's stock valued at $37,811,000 after buying an additional 520,186 shares during the period. Leeward Investments LLC MA lifted its holdings in shares of Prestige Consumer Healthcare by 23.3% in the fourth quarter. Leeward Investments LLC MA now owns 387,321 shares of the company's stock worth $23,894,000 after buying an additional 73,162 shares in the last quarter. Legato Capital Management LLC lifted its holdings in shares of Prestige Consumer Healthcare by 532.4% in the fourth quarter. Legato Capital Management LLC now owns 27,774 shares of the company's stock worth $1,713,000 after buying an additional 23,382 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of Prestige Consumer Healthcare by 93.2% in the fourth quarter. Brandes Investment Partners LP now owns 606,737 shares of the company's stock valued at $37,430,000 after acquiring an additional 292,744 shares during the period. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Prestige Consumer Healthcare Price Performance

PBH stock opened at $49.92 on Friday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.63 and a beta of 0.35. The firm's 50-day moving average price is $47.91 and its two-hundred day moving average price is $57.35. The company has a current ratio of 3.57, a quick ratio of 2.25 and a debt-to-equity ratio of 0.54. Prestige Consumer Healthcare Inc. has a 12-month low of $42.62 and a 12-month high of $77.45.

Prestige Consumer Healthcare (NYSE:PBH - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.16). Prestige Consumer Healthcare had a return on equity of 11.54% and a net margin of 17.48%.The firm had revenue of $281.62 million for the quarter, compared to analysts' expectations of $293.64 million. During the same quarter in the prior year, the company posted $1.32 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. Prestige Consumer Healthcare has set its FY 2027 guidance at 4.420-4.510 EPS. As a group, equities analysts predict that Prestige Consumer Healthcare Inc. will post 4.45 earnings per share for the current year.

Wall Street Analyst Weigh In

PBH has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Prestige Consumer Healthcare from $86.00 to $72.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Oppenheimer lowered shares of Prestige Consumer Healthcare from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 14th. Zacks Research cut shares of Prestige Consumer Healthcare from a "hold" rating to a "strong sell" rating in a report on Monday, May 18th. Finally, Weiss Ratings downgraded Prestige Consumer Healthcare from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.75.

Insider Buying and Selling

In related news, VP Jeffrey Zerillo sold 1,207 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $54.99, for a total value of $66,372.93. Following the completion of the sale, the vice president owned 42,820 shares of the company's stock, valued at $2,354,671.80. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.

Prestige Consumer Healthcare Company Profile

Prestige Consumer Healthcare, Inc is a leading manufacturer and marketer of branded over-the-counter (OTC) healthcare products. The company focuses on developing, acquiring and commercializing a diverse portfolio of non-prescription remedies designed to address common consumer health needs, including pain relief, cold and cough, digestive health, eye care, skin care and women's health.

Key brands in Prestige's portfolio include Clear Eyes (eye health), Carmex (lip care), Chloraseptic (sore throat relief), Dramamine (motion sickness), Rolaids (antacid), Monistat (women's health), BC Powder (pain relief), Little Remedies (pediatric cold and gas relief) and TheraTears (dry eye therapy).

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