Charles Schwab Investment Management Inc. Sells 407,278 Shares of Perrigo Company plc (NYSE:PRGO)

Charles Schwab Investment Management Inc. cut its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 28.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,170 shares of the company's stock after selling 407,278 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.76% of Perrigo worth $27,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in shares of Perrigo in the third quarter worth about $56,000. KBC Group NV grew its holdings in shares of Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after acquiring an additional 905 shares in the last quarter. Voisard Asset Management Group Inc. grew its stake in Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company's stock valued at $119,000 after purchasing an additional 3,900 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Perrigo in the 3rd quarter valued at $208,000. Finally, CWM LLC boosted its holdings in Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company's stock worth $210,000 after purchasing an additional 7,358 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Price Performance

Perrigo stock traded down $0.48 during mid-day trading on Thursday, reaching $28.43. 1,348,975 shares of the company were exchanged, compared to its average volume of 1,613,405. The firm has a market cap of $3.88 billion, a PE ratio of -24.71 and a beta of 0.52. 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 Company plc has a 12 month low of $23.89 and a 12 month high of $34.60. The company has a fifty day simple moving average of $26.19 and a 200-day simple moving average of $27.00.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.81. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be given 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 is Friday, November 29th. Perrigo's payout ratio is currently -94.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRGO. Jefferies Financial Group restated a "hold" rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $42.00 price target 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Insider Buying and Selling

In related news, Director Katherine C. Doyle sold 8,954 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This represents a 59.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.