Principal Financial Group Inc. Has $8.29 Million Position in Perrigo Company plc (NYSE:PRGO)

Principal Financial Group Inc. cut its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 30.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,058 shares of the company's stock after selling 137,826 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Perrigo worth $8,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRGO. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company's stock valued at $183,935,000 after acquiring an additional 249,640 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in 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 in the last quarter. Cooke & Bieler LP raised its holdings in Perrigo by 0.9% in the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company's stock worth $89,916,000 after purchasing an additional 30,150 shares during the period. Wellington Management Group LLP boosted its position in shares of Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock worth $70,761,000 after purchasing an additional 1,878,145 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of Perrigo by 23.1% in the 3rd 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 period. Institutional investors own 95.91% of the company's stock.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares of the company's stock, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on PRGO shares. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, December 25th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Perrigo Stock Up 1.7 %

Shares of Perrigo stock traded up $0.42 during trading on Wednesday, reaching $25.71. The stock had a trading volume of 1,267,419 shares, compared to its average volume of 1,588,177. 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 $3.51 billion, a price-to-earnings ratio of -21.97 and a beta of 0.52. The stock has a fifty day moving average price of $26.78 and a two-hundred day moving average price of $26.84. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts' consensus estimates of $0.81. The firm 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 business's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. Sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, November 29th. Perrigo's dividend payout ratio is currently -94.02%.

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.