Perrigo Company plc (NYSE:PRGO) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Perrigo Company plc (NYSE:PRGO) by 62.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,218 shares of the company’s stock after purchasing an additional 849 shares during the quarter. Fifth Third Bancorp’s holdings in Perrigo were worth $62,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PRGO. Price T Rowe Associates Inc. MD grew its holdings in Perrigo by 6,828.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock valued at $201,710,000 after buying an additional 7,732,309 shares during the last quarter. Norges Bank acquired a new stake in shares of Perrigo during the fourth quarter valued at $36,614,000. Ion Asset Management Ltd. boosted its stake in shares of Perrigo by 50.1% during the fourth quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock valued at $72,502,000 after acquiring an additional 941,667 shares during the last quarter. BW Gestao de Investimentos Ltda. boosted its stake in shares of Perrigo by 111.6% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 1,097,192 shares of the company’s stock valued at $28,209,000 after acquiring an additional 578,597 shares during the last quarter. Finally, Boone Capital Management LLC boosted its stake in shares of Perrigo by 126.1% during the fourth quarter. Boone Capital Management LLC now owns 1,022,369 shares of the company’s stock valued at $26,285,000 after acquiring an additional 570,148 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Perrigo has a consensus rating of “Hold” and a consensus target price of $33.00.

Perrigo Stock Up 0.7%

Shares of NYSE:PRGO opened at $26.52 on Friday. The stock’s 50-day moving average price is $26.16 and its two-hundred day moving average price is $26.07. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. 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 $3.65 billion, a price-to-earnings ratio of -20.24 and a beta of 0.46.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, May 30th. Perrigo’s payout ratio is currently -88.55%.

About Perrigo

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.