M&T Bank Corp Has $185,000 Stake in Perrigo Company plc (NYSE:PRGO)

M&T Bank Corp decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 29.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,602 shares of the company’s stock after selling 2,744 shares during the period. M&T Bank Corp’s holdings in Perrigo were worth $185,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PRGO. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 7,732,309 shares during the last quarter. Norges Bank acquired a new position in shares of Perrigo during the 4th quarter valued at about $36,614,000. Ion Asset Management Ltd. increased its holdings in shares of Perrigo by 50.1% during the 4th 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. increased its holdings in shares of Perrigo by 111.6% during the 4th 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 increased its holdings in shares of Perrigo by 126.1% during the 4th 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. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.00.

Perrigo Stock Performance

PRGO opened at $26.95 on Friday. The firm has a market capitalization of $3.71 billion, a P/E ratio of -20.57 and a beta of 0.45. The stock’s 50 day moving average price is $26.82 and its two-hundred day moving average price is $26.13. The company has a quick ratio of 1.28, a current ratio of 2.36 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.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm 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 8.93% and a negative net margin of 4.16%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, equities analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders 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 4.30%. The ex-dividend date of this dividend was Friday, May 30th. Perrigo’s dividend payout ratio (DPR) is currently -88.55%.

Perrigo 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.