Victory Capital Management Inc. Raises Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Victory Capital Management Inc. boosted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,422,288 shares of the company’s stock after purchasing an additional 16,735 shares during the quarter. Victory Capital Management Inc.’s holdings in Perrigo were worth $37,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PRGO. Venturi Wealth Management LLC purchased a new position in shares of Perrigo in the 3rd quarter worth approximately $56,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Perrigo during the second quarter worth $72,000. Voisard Asset Management Group Inc. increased its position in shares of Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Perrigo in the 3rd quarter worth $208,000. Finally, CWM LLC grew its stake in Perrigo by 877.0% during the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after buying an additional 7,358 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have 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. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Perrigo currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Trading Down 0.4 %

Perrigo stock opened at $26.81 on Friday. The stock has a 50-day moving average price of $25.96 and a 200 day moving average price of $27.29. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -22.91 and a beta of 0.48. Perrigo Company plc has a 52 week low of $23.89 and a 52 week 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 data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during 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 in the previous year, the business posted $0.64 EPS. Sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.12%. Perrigo’s payout ratio is currently -94.02%.

Insider Activity

In related 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 transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. This represents a 38.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,254 shares of company stock valued at $1,411,969 in the last quarter. 0.70% of the stock is currently owned by company insiders.

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.