Advisors Asset Management Inc. reduced its stake in Perrigo Co. (NYSE:PRGO) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,284 shares of the company’s stock after selling 44 shares during the period. Advisors Asset Management Inc.’s holdings in Perrigo were worth $116,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of PRGO. Amica Retiree Medical Trust acquired a new position in Perrigo during the second quarter valued at approximately $105,000. Balentine LLC boosted its stake in Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock valued at $134,000 after buying an additional 230 shares during the period. Hall Laurie J Trustee boosted its stake in Perrigo by 49.1% in the second quarter. Hall Laurie J Trustee now owns 1,670 shares of the company’s stock valued at $156,000 after buying an additional 550 shares during the period. MU Investments Co. Ltd. purchased a new stake in Perrigo during the second quarter valued at about $176,000. Finally, Smithfield Trust Co. boosted its stake in Perrigo by 4,352.2% in the second quarter. Smithfield Trust Co. now owns 2,048 shares of the company’s stock valued at $186,000 after buying an additional 2,002 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.
Shares of Perrigo Co. (NYSE:PRGO) traded down 4.10% on Friday, hitting $90.95. 2,907,127 shares of the stock were exchanged. The firm’s 50 day moving average price is $92.69 and its 200 day moving average price is $99.32. Perrigo Co. has a one year low of $82.50 and a one year high of $167.92. The firm’s market cap is $13.03 billion.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the Zacks’ consensus estimate of $1.98 by $0.05. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $2.18 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Perrigo Co. will post $7.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were paid a dividend of $0.145 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.58 dividend on an annualized basis and a yield of 0.64%. Perrigo’s dividend payout ratio (DPR) is -60.42%.
Several equities research analysts have recently issued reports on the stock. Bank of America Corp. reaffirmed a “sell” rating and set a $109.00 price objective on shares of Perrigo in a research report on Wednesday, June 15th. BTIG Research reaffirmed a “neutral” rating on shares of Perrigo in a research report on Friday, June 17th. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Perrigo in a research report on Wednesday, June 15th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, Vetr cut shares of Perrigo from a “buy” rating to a “hold” rating and set a $98.60 price objective for the company. in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $113.37.
In other Perrigo news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $88.28, for a total transaction of $184,946.60. Following the transaction, the executive vice president now directly owns 16,292 shares in the company, valued at approximately $1,438,257.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Judy L. Brown sold 2,096 shares of the stock in a transaction on Monday, September 26th. The shares were sold at an average price of $96.76, for a total transaction of $202,808.96. Following the transaction, the chief financial officer now owns 14,196 shares in the company, valued at $1,373,604.96. The disclosure for this sale can be found here. Company insiders own 4.47% of the company’s stock.
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