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

Principal Financial Group Inc. trimmed its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 30.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 316,058 shares of the company's stock after selling 137,826 shares during the period. Principal Financial Group Inc. owned 0.23% of Perrigo worth $8,290,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Perrigo by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 117,661 shares of the company's stock worth $2,987,000 after buying an additional 11,165 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Perrigo by 155.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,021 shares of the company's stock valued at $1,391,000 after purchasing an additional 32,272 shares during the period. Voisard Asset Management Group Inc. boosted its holdings in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company's stock valued at $134,000 after purchasing an additional 450 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Perrigo by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,709 shares of the company's stock valued at $412,000 after buying an additional 1,075 shares in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Perrigo in the 3rd quarter valued at $1,443,000. 95.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares of the company's stock, valued at approximately $604,258.20. This represents a 38.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now directly owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Perrigo Stock Down 1.1 %

PRGO stock traded down $0.30 during mid-day trading on Wednesday, hitting $26.94. 529,460 shares of the company were exchanged, compared to its average volume of 1,623,643. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market cap of $3.68 billion, a P/E ratio of -23.28 and a beta of 0.48. The firm's 50 day simple moving average is $25.97 and its 200 day simple moving average is $27.17. 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 issued its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

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 given a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.10%. Perrigo's payout ratio is presently -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.