Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Perrigo Company plc (NYSE:PRGO – Get Rating) by 25.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,820 shares of the company’s stock after buying an additional 2,818 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Perrigo were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Raymond James & Associates raised its position in Perrigo by 23.6% during the first quarter. Raymond James & Associates now owns 53,302 shares of the company’s stock valued at $2,048,000 after purchasing an additional 10,189 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Perrigo by 222.6% in the first quarter. PNC Financial Services Group Inc. now owns 8,039 shares of the company’s stock valued at $308,000 after purchasing an additional 5,547 shares during the period. Natixis Advisors L.P. increased its holdings in Perrigo by 135.4% in the first quarter. Natixis Advisors L.P. now owns 24,726 shares of the company’s stock valued at $950,000 after purchasing an additional 14,222 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Perrigo by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,027 shares of the company’s stock valued at $1,884,000 after purchasing an additional 4,675 shares during the period. Finally, BlackRock Inc. increased its holdings in Perrigo by 4.8% in the first quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock valued at $465,469,000 after purchasing an additional 554,915 shares during the period. 94.09% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Perrigo
In other news, Director Geoffrey M. Parker purchased 5,000 shares of the business’s stock in a transaction on Monday, March 6th. The stock was purchased at an average cost of $38.05 per share, with a total value of $190,250.00. Following the acquisition, the director now directly owns 15,879 shares in the company, valued at $604,195.95. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Perrigo news, Director Geoffrey M. Parker bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were bought at an average price of $38.05 per share, for a total transaction of $190,250.00. Following the transaction, the director now directly owns 15,879 shares in the company, valued at $604,195.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Farrington sold 3,723 shares of Perrigo stock in a transaction on Monday, March 13th. The stock was sold at an average price of $35.57, for a total transaction of $132,427.11. Following the completion of the transaction, the executive vice president now owns 2,823 shares in the company, valued at approximately $100,414.11. The disclosure for this sale can be found here. Insiders sold a total of 17,223 shares of company stock valued at $619,867 in the last three months. Company insiders own 0.80% of the company’s stock.
Perrigo Trading Up 0.7 %
Perrigo (NYSE:PRGO – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a negative net margin of 2.91% and a positive return on equity of 5.79%. Perrigo’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. As a group, analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.
Perrigo Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Friday, June 2nd will be issued a $0.273 dividend. This represents a $1.09 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, June 1st. Perrigo’s dividend payout ratio (DPR) is presently -113.54%.
Wall Street Analyst Weigh In
A number of brokerages have commented on PRGO. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, April 16th. Raymond James upped their price target on shares of Perrigo from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Sunday, March 5th. Finally, Canaccord Genuity Group began coverage on shares of Perrigo in a research report on Tuesday, March 7th. They set a “buy” rating and a $49.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.00.
Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).
- Get a free copy of the StockNews.com research report on Perrigo (PRGO)
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