Mitsubishi UFJ Trust & Banking Corp reduced its position in Perrigo Company PLC (NYSE:PRGO) by 62.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,948 shares of the company’s stock after selling 171,161 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Perrigo worth $7,289,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its position in Perrigo by 114.3% in the 3rd quarter. FMR LLC now owns 11,080,094 shares of the company’s stock worth $784,471,000 after purchasing an additional 5,909,969 shares during the period. Starboard Value LP raised its position in Perrigo by 4.1% in the 2nd quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock worth $732,120,000 after purchasing an additional 400,000 shares during the period. BlackRock Inc. raised its position in Perrigo by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock worth $643,897,000 after purchasing an additional 148,761 shares during the period. Victory Capital Management Inc. raised its position in Perrigo by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,136,381 shares of the company’s stock worth $222,056,000 after purchasing an additional 334,660 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in Perrigo by 132.0% in the 3rd quarter. Ceredex Value Advisors LLC now owns 2,828,159 shares of the company’s stock worth $200,234,000 after purchasing an additional 1,609,009 shares during the period. 87.50% of the stock is currently owned by institutional investors.
Shares of PRGO stock opened at $59.93 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.26 and a current ratio of 1.85. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.25 and a beta of 0.58. Perrigo Company PLC has a one year low of $59.67 and a one year high of $95.93.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a net margin of 2.54% and a return on equity of 11.32%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. On average, equities analysts forecast that Perrigo Company PLC will post 4.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.27%. Perrigo’s dividend payout ratio is presently 15.42%.
In other Perrigo news, EVP Svend Andersen acquired 3,900 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were purchased at an average cost of $63.01 per share, for a total transaction of $245,739.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd W. Kingma acquired 3,200 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were acquired at an average price of $63.99 per share, for a total transaction of $204,768.00. Following the completion of the purchase, the vice president now owns 23,587 shares of the company’s stock, valued at approximately $1,509,332.13. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,783 shares of company stock worth $1,646,976. Insiders own 6.90% of the company’s stock.
A number of analysts recently weighed in on PRGO shares. Morgan Stanley reduced their price objective on shares of Perrigo from $77.00 to $67.00 and set a “hold” rating on the stock in a research report on Tuesday, November 13th. Wells Fargo & Co dropped their target price on shares of Perrigo from $77.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 14th. Royal Bank of Canada set a $63.00 target price on shares of Perrigo and gave the stock a “hold” rating in a research note on Friday, November 9th. ValuEngine downgraded shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Finally, Deutsche Bank downgraded shares of Perrigo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $93.00 to $78.00 in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $82.73.
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Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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