Edgewell Personal Care (EPC) Shares Up 8.6% Following Insider Buying Activity
Edgewell Personal Care Co (NYSE:EPC) shot up 8.6% on Wednesday following insider buying activity. The stock traded as high as $54.82 and last traded at $54.48. 1,979,953 shares changed hands during trading, an increase of 123% from the average session volume of 886,577 shares. The stock had previously closed at $50.16.
Specifically, VP Anthony J. Bender purchased 1,450 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $50.02 per share, with a total value of $72,529.00. Following the completion of the purchase, the vice president now directly owns 14,359 shares of the company’s stock, valued at approximately $718,237.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. Hatfield purchased 3,969 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $50.38 per share, for a total transaction of $199,958.22. Following the purchase, the chief executive officer now directly owns 18,619 shares of the company’s stock, valued at $938,025.22. The disclosure for this purchase can be found here. Insiders have bought 6,419 shares of company stock worth $323,077 in the last ninety days. 0.97% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on EPC. Barclays set a $47.00 price target on Edgewell Personal Care and gave the company a “sell” rating in a research note on Saturday, February 10th. Morgan Stanley cut their price target on Edgewell Personal Care from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Deutsche Bank cut their price target on Edgewell Personal Care from $65.00 to $53.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Zacks Investment Research raised Edgewell Personal Care from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Edgewell Personal Care in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Edgewell Personal Care currently has an average rating of “Hold” and an average target price of $68.67.
Edgewell Personal Care (NYSE:EPC) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.37). The company had revenue of $468.30 million during the quarter, compared to the consensus estimate of $470.63 million. Edgewell Personal Care had a negative net margin of 0.92% and a positive return on equity of 11.24%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. sell-side analysts predict that Edgewell Personal Care Co will post 3.85 earnings per share for the current year.
Edgewell Personal Care announced that its board has approved a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Edgewell Personal Care by 0.3% in the fourth quarter. BlackRock Inc. now owns 8,419,855 shares of the company’s stock valued at $500,055,000 after purchasing an additional 23,842 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Edgewell Personal Care by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 3,476,454 shares of the company’s stock valued at $252,077,000 after purchasing an additional 419,403 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Edgewell Personal Care by 0.3% in the third quarter. Gamco Investors INC. ET AL now owns 2,084,655 shares of the company’s stock worth $151,700,000 after acquiring an additional 7,050 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Edgewell Personal Care by 27.4% in the fourth quarter. Bank of New York Mellon Corp now owns 897,173 shares of the company’s stock worth $53,284,000 after acquiring an additional 193,148 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Edgewell Personal Care by 531.2% in the fourth quarter. Schroder Investment Management Group now owns 884,300 shares of the company’s stock worth $52,519,000 after acquiring an additional 744,200 shares in the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.
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About Edgewell Personal Care
Edgewell Personal Care Company is a manufacturer and marketer of personal care products in the wet shave, sun and skin care, feminine care and infant care categories. As of September 30, 2016, the Company had a portfolio of over 25 brands. It manages its business in four segments: Wet Shave, Sun and Skin Care, Feminine Care and All Other.
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