State Street Corp Lowers Stock Holdings in Perrigo Company plc (NYSE:PRGO)

State Street Corp reduced its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,505,345 shares of the company's stock after selling 329,170 shares during the quarter. State Street Corp owned approximately 4.77% of Perrigo worth $170,635,000 as of its most recent SEC filing.

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

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares in the company, valued at $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company's stock.

Perrigo Stock Down 0.5 %

PRGO stock traded down $0.14 during trading on Friday, hitting $27.45. 966,639 shares of the company's stock were exchanged, compared to its average volume of 1,601,242. The business has a 50-day moving average price of $26.52 and a two-hundred day moving average price of $26.97. 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 stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -23.46 and a beta of 0.52. 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 issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company's revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company 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 dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, November 29th. Perrigo's dividend payout ratio (DPR) is currently -94.02%.

Wall Street Analysts Forecast Growth

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

Perrigo Company 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.