Rhumbline Advisers Trims Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Rhumbline Advisers reduced its stake in Perrigo Company plc (NYSE:PRGO) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 367,478 shares of the company’s stock after selling 2,607 shares during the period. Rhumbline Advisers owned approximately 0.27% of Perrigo worth $10,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC grew its position in shares of Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock worth $3,160,000 after buying an additional 37,268 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Perrigo during the fourth quarter worth approximately $7,989,000. Charles Schwab Investment Management Inc. raised its stake in shares of Perrigo by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company’s stock worth $26,944,000 after purchasing an additional 13,835 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Perrigo in the fourth quarter worth $3,177,000. Finally, Norges Bank purchased a new position in Perrigo in the fourth quarter worth $36,614,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Up 0.2%

Shares of NYSE:PRGO opened at $26.22 on Tuesday. The stock’s 50-day moving average price is $25.92 and its two-hundred day moving average price is $26.15. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $30.93. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -22.41 and a beta of 0.46.

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

Perrigo Dividend Announcement

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

Analyst Ratings Changes

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

Perrigo Company 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.