Fmr LLC Has $48.27 Million Stake in Perrigo Company plc (NYSE:PRGO)

FMR LLC increased its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 66,795.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,840,289 shares of the company's stock after purchasing an additional 1,837,538 shares during the period. FMR LLC owned 1.35% of Perrigo worth $48,271,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Diamond Hill Capital Management Inc. lifted its holdings in Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock worth $49,821,000 after acquiring an additional 881,191 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock valued at $24,926,000 after buying an additional 845,470 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock valued at $65,117,000 after buying an additional 465,161 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Perrigo by 11.2% during the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock valued at $99,701,000 after buying an additional 391,646 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Perrigo by 58.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company's stock valued at $27,271,000 after buying an additional 383,728 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Price Performance

NYSE:PRGO traded down $0.36 during midday trading on Friday, hitting $28.07. 1,030,722 shares of the stock were exchanged, compared to its average volume of 1,426,518. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.52. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The business has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $26.99.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo's payout ratio is -94.02%.

Insiders Place Their Bets

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares of the company's stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.00.

Perrigo Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.