State Street Corp Has $170.64 Million Stake in Perrigo Company plc (NYSE:PRGO)

State Street Corp decreased its position in shares of Perrigo Company plc (NYSE:PRGO) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,505,345 shares of the company’s stock after selling 329,170 shares during the period. State Street Corp’s holdings in Perrigo were worth $170,635,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRGO. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo in the third quarter valued at approximately $56,000. KBC Group NV increased its holdings in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares in the last quarter. Voisard Asset Management Group Inc. increased its holdings in shares of Perrigo by 9.7% in the third 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 acquired a new stake in shares of Perrigo in the third quarter valued at approximately $208,000. Finally, CWM LLC increased its holdings in shares of Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after purchasing an additional 7,358 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Trading Down 0.5 %

Shares of NYSE PRGO opened at $27.45 on Friday. The company’s fifty day moving average is $26.52 and its 200-day moving average is $26.97. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -23.46 and a beta of 0.52. Perrigo Company plc has a twelve month low of $23.89 and a twelve month 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.

Perrigo (NYSE:PRGO) last announced 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 company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors 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 annualized dividend and a yield of 4.02%. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Activity at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRGO. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.