Should You Invest in Prestige Consumer Healthcare (PBH)?
Ariel Investments, an investment management company, released its “Ariel Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The third quarter saw losses in the U.S. stock market due to concerns about a government shutdown, autoworker strikes, rising oil prices, and the possibility that interest rates might stay higher for longer. In the third quarter, Ariel fund declined -7.15% underperforming both the Russell 2500 Value Index and the Russell 2500 Index, which returned -3.66% and -4.78%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Fund highlighted stocks like Prestige Consumer Healthcare Inc. (NYSE:PBH) in the third quarter 2023 investor letter. Headquartered in Tarrytown, New York, Prestige Consumer Healthcare Inc. (NYSE:PBH) develops, manufactures, markets, distributes, and sells pharmaceutical drugs and consumer products. On November 28, 2023, Prestige Consumer Healthcare Inc. (NYSE:PBH) stock closed at $57.13 per share. One-month return of Prestige Consumer Healthcare Inc. (NYSE:PBH) was -4.00%, and its shares lost 7.05% of their value over the last 52 weeks. Prestige Consumer Healthcare Inc. (NYSE:PBH) has a market capitalization of $2.835 billion.
Ariel Fund made the following comment about Prestige Consumer Healthcare Inc. (NYSE:PBH) in its Q3 2023 investor letter:
"Also in the quarter, we added marketer and distributor of over-the-counter pharmaceutical drugs and products, Prestige Consumer Healthcare Inc. (NYSE:PBH). The company has a history of innovation and acquiring products to meet unmet consumer needs. Following an acquisition in 2017, the company levered the balance sheet and has been focused on using free cash flow to pay down debt. As its products, such as cough/cold and travel, rebound from COVID-19 pressures, we expect margins and earnings growth to lead to multiple expansion."
A pharmacist in a hospital pharmacy stands next to a row of various drug containers.
Prestige Consumer Healthcare Inc. (NYSE:PBH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Prestige Consumer Healthcare Inc. (NYSE:PBH) at the end of third quarter which was 23 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
