Rhumbline Advisers Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Rhumbline Advisers lowered its position in Perrigo Company plc (NYSE:PRGO) by 0.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 402,335 shares of the company’s stock after selling 2,398 shares during the period. Rhumbline Advisers owned 0.30% of Perrigo worth $14,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in Perrigo by 7.5% in the 4th quarter. Amalgamated Bank now owns 103,618 shares of the company’s stock valued at $3,532,000 after purchasing an additional 7,219 shares in the last quarter. Creative Planning raised its holdings in shares of Perrigo by 3.6% during the 4th quarter. Creative Planning now owns 18,693 shares of the company’s stock worth $637,000 after acquiring an additional 642 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Perrigo by 7.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 8,087 shares of the company’s stock worth $290,000 after acquiring an additional 552 shares during the period. California Public Employees Retirement System raised its holdings in shares of Perrigo by 34.2% during the 4th quarter. California Public Employees Retirement System now owns 408,636 shares of the company’s stock worth $13,930,000 after acquiring an additional 104,241 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Perrigo by 41.5% during the 4th quarter. Gabelli Funds LLC now owns 502,900 shares of the company’s stock worth $17,144,000 after acquiring an additional 147,400 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Activity at Perrigo

In other Perrigo news, Director Geoffrey M. Parker purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was bought at an average price of $33.06 per share, with a total value of $330,600.00. Following the transaction, the director now directly owns 25,879 shares of the company’s stock, valued at approximately $855,559.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

Perrigo Stock Up 3.3 %

Shares of NYSE:PRGO opened at $36.15 on Friday. The business has a 50-day moving average price of $35.76 and a 200 day moving average price of $35.41. The company has a current ratio of 2.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -86.07 and a beta of 0.80. Perrigo Company plc has a 12-month low of $30.78 and a 12-month high of $41.44.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 1.22%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. Sell-side analysts expect that Perrigo Company plc will post 2.6 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st will be paid a $0.273 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, August 31st. Perrigo’s payout ratio is -259.52%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Perrigo from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Perrigo presently has an average rating of “Buy” and a consensus target price of $48.00.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.