ArrowMark Colorado Holdings LLC Increases Stock Position in Perrigo Company plc (NYSE:PRGO)

ArrowMark Colorado Holdings LLC raised its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 588,855 shares of the company's stock after purchasing an additional 25,000 shares during the period. ArrowMark Colorado Holdings LLC owned 0.43% of Perrigo worth $15,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PRGO. FMR LLC increased its holdings in shares of Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after acquiring an additional 1,837,538 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Perrigo by 83.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock worth $49,821,000 after buying an additional 881,191 shares during the period. AQR Capital Management LLC raised its stake in Perrigo by 675.5% in the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock worth $24,926,000 after acquiring an additional 845,470 shares during the last quarter. Copeland Capital Management LLC grew its stake in Perrigo by 23.1% during the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock valued at $65,117,000 after purchasing an additional 465,161 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock valued at $99,701,000 after purchasing an additional 391,646 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Perrigo Price Performance

Perrigo stock traded down $0.03 during trading on Tuesday, reaching $28.45. The company had a trading volume of 307,504 shares, compared to its average volume of 1,612,177. The firm has a market capitalization of $3.88 billion, a PE ratio of -24.41 and a beta of 0.52. The firm's 50-day simple moving average is $26.09 and its 200 day simple moving average is $27.00. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting 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 business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company's quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo's payout ratio is -94.02%.

Insider Activity

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction on Friday, September 13th. The stock was 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.40% of the company's stock.

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.