Bank of New York Mellon Corp trimmed its position in Perrigo Company plc (NYSE:PRGO – Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,231,169 shares of the company’s stock after selling 30,922 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of Perrigo worth $44,162,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PRGO. Manchester Capital Management LLC purchased a new stake in shares of Perrigo during the 1st quarter worth $187,000. US Bancorp DE lifted its stake in shares of Perrigo by 145.7% during the 1st quarter. US Bancorp DE now owns 13,046 shares of the company’s stock worth $468,000 after purchasing an additional 7,736 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Perrigo by 18.8% during the 1st quarter. Russell Investments Group Ltd. now owns 741,568 shares of the company’s stock worth $26,600,000 after purchasing an additional 117,466 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Perrigo by 54.0% during the 1st quarter. Personal CFO Solutions LLC now owns 10,808 shares of the company’s stock worth $388,000 after purchasing an additional 3,788 shares during the last quarter. Finally, MGO One Seven LLC purchased a new stake in shares of Perrigo during the 1st quarter worth $295,000. 95.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Geoffrey M. Parker acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average cost of $33.06 per share, with a total value of $330,600.00. Following the completion of the acquisition, the director now owns 25,879 shares of the company’s stock, valued at $855,559.74. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.
Perrigo Trading Up 0.2 %
Shares of NYSE:PRGO opened at $37.77 on Wednesday. The business’s 50-day moving average is $35.36 and its 200 day moving average is $35.37. Perrigo Company plc has a 1 year low of $30.78 and a 1 year high of $41.44. The firm has a market capitalization of $5.11 billion, a P/E ratio of -89.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.62 and a quick ratio of 1.52.
Perrigo (NYSE:PRGO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 1.22%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, research analysts predict that Perrigo Company plc will post 2.59 earnings per share for the current fiscal year.
Perrigo Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st will be issued a $0.273 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, August 31st. Perrigo’s dividend payout ratio is presently -259.52%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on PRGO shares. JPMorgan Chase & Co. upped their price objective on Perrigo from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $48.00.
Get Our Latest Stock Analysis on Perrigo
Perrigo Company Profile
(Free Report)
Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.
Further Reading
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