Perrigo Company plc (NYSE:PRGO) Holdings Decreased by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of Perrigo Company plc (NYSE:PRGO) by 0.7% in the first quarter, HoldingsChannel reports. The firm owned 367,478 shares of the company’s stock after selling 2,607 shares during the quarter. Rhumbline Advisers’ holdings in Perrigo were worth $10,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Perrigo by 6,828.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock worth $201,710,000 after acquiring an additional 7,732,309 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Perrigo by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company’s stock valued at $179,698,000 after acquiring an additional 27,835 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Perrigo by 1.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company’s stock worth $117,182,000 after buying an additional 50,728 shares during the last quarter. Cooke & Bieler LP increased its holdings in Perrigo by 4.1% in the fourth quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock worth $91,879,000 after buying an additional 139,650 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its holdings in Perrigo by 50.1% during the fourth quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock valued at $72,502,000 after purchasing an additional 941,667 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Up 0.2%

PRGO opened at $26.22 on Tuesday. The company has a market capitalization of $3.60 billion, a P/E ratio of -22.41 and a beta of 0.46. The firm’s fifty day moving average price is $25.92 and its two-hundred day moving average price is $26.15. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. On average, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.42%. Perrigo’s payout ratio is -88.55%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

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.