Sasco Capital Inc. CT Has $18.61 Million Stake in Perrigo Company plc (NYSE:PRGO)

Sasco Capital Inc. CT lowered its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,392 shares of the company's stock after selling 117,870 shares during the quarter. Perrigo accounts for approximately 2.8% of Sasco Capital Inc. CT's holdings, making the stock its 19th biggest holding. Sasco Capital Inc. CT owned about 0.52% of Perrigo worth $18,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. Diamond Hill Capital Management Inc. increased its holdings in shares of Perrigo by 83.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock valued at $49,821,000 after acquiring an additional 881,191 shares during the last quarter. AQR Capital Management LLC increased its stake in Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock valued at $24,926,000 after purchasing an additional 845,470 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Perrigo during the first quarter worth $19,040,000. Copeland Capital Management LLC lifted its position 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 worth $65,117,000 after buying an additional 465,161 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Perrigo by 11.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock valued at $99,701,000 after buying an additional 391,646 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of the business's stock in a transaction on 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 directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. The trade was a 38.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. 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. Jefferies Financial Group restated a "hold" rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, StockNews.com upgraded 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 issued a buy rating to the stock. According to MarketBeat, Perrigo currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Perrigo Stock Up 1.3 %

Shares of NYSE:PRGO traded up $0.36 during trading on Tuesday, reaching $27.24. 1,740,536 shares of the company traded hands, compared to its average volume of 1,628,528. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.72 billion, a P/E ratio of -22.97 and a beta of 0.48. The firm has a fifty day simple moving average of $25.97 and a 200 day simple moving average of $27.21.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. 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. Shareholders of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo's payout ratio is -94.02%.

About Perrigo

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.