Nicola Wealth Management LTD. boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 59.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,000 shares of the company's stock after acquiring an additional 59,000 shares during the period. Nicola Wealth Management LTD. owned 0.12% of Perrigo worth $4,171,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Perrigo by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company's stock worth $183,935,000 after buying an additional 249,640 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Perrigo by 11.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock worth $99,701,000 after acquiring an additional 391,646 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Perrigo by 0.9% in the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company's stock valued at $89,916,000 after purchasing an additional 30,150 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of Perrigo by 23.1% during the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock worth $65,117,000 after purchasing an additional 465,161 shares during the last quarter. Finally, Sound Shore Management Inc. CT grew its stake in shares of Perrigo by 5.2% during the second quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company's stock worth $61,402,000 after purchasing an additional 117,230 shares in the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.
Perrigo Stock Performance
Shares of PRGO stock traded up $0.13 during trading hours on Thursday, hitting $26.94. The stock had a trading volume of 1,950,153 shares, compared to its average volume of 1,628,281. The stock's 50 day moving average is $25.98 and its 200 day moving average is $27.37. The firm has a market capitalization of $3.68 billion, a PE ratio of -23.03 and a beta of 0.48. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.
Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts' consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.64 earnings per share. Perrigo's quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.
Perrigo Dividend Announcement
The business 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.10%. Perrigo's payout ratio is -94.02%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PRGO. Canaccord Genuity Group restated a "buy" rating and set a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group restated a "hold" rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, StockNews.com raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Perrigo currently has an average rating of "Moderate Buy" and an average target price of $37.00.
View Our Latest Analysis on PRGO
Insider Buying and Selling at Perrigo
In related news, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares of the company's stock, valued at approximately $604,258.20. This trade represents a 38.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is currently owned by insiders.
About Perrigo
(
Free Report)
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.
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