US Bancorp DE Purchases 13,483 Shares of Perrigo Company plc (NYSE:PRGO)

US Bancorp DE grew its position in Perrigo Company plc (NYSE:PRGO) by 430.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,618 shares of the company’s stock after acquiring an additional 13,483 shares during the period. US Bancorp DE’s holdings in Perrigo were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PRGO. Monaco Asset Management SAM grew its holdings in Perrigo by 12.6% during the 1st quarter. Monaco Asset Management SAM now owns 201,595 shares of the company’s stock worth $5,653,000 after acquiring an additional 22,500 shares during the period. Bayforest Capital Ltd acquired a new stake in Perrigo during the 1st quarter worth $246,000. XTX Topco Ltd acquired a new stake in Perrigo during the 1st quarter worth $1,412,000. Picton Mahoney Asset Management acquired a new stake in Perrigo during the 1st quarter worth $42,000. Finally, Mackenzie Financial Corp acquired a new stake in Perrigo during the 1st quarter worth $230,000. Institutional investors own 95.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Perrigo Price Performance

PRGO stock opened at $23.04 on Wednesday. Perrigo Company plc has a 52-week low of $21.03 and a 52-week high of $30.93. The company has a fifty day moving average price of $26.60 and a 200-day moving average price of $26.31. The company has a market capitalization of $3.17 billion, a P/E ratio of -39.73 and a beta of 0.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, equities analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s dividend payout ratio (DPR) is presently -200.00%.

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.