Royal Bank of Canada Has $11.62 Million Stock Holdings in Perrigo Company plc $PRGO

Royal Bank of Canada increased its position in shares of Perrigo Company plc (NYSE:PRGO) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 414,232 shares of the company’s stock after acquiring an additional 73,264 shares during the quarter. Royal Bank of Canada owned about 0.30% of Perrigo worth $11,615,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Perrigo by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock valued at $200,085,000 after purchasing an additional 146,211 shares during the last quarter. Sound Shore Management Inc. CT increased its holdings in Perrigo by 23.1% in the first quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after purchasing an additional 616,387 shares during the last quarter. Copeland Capital Management LLC increased its holdings in Perrigo by 2.6% in the first quarter. Copeland Capital Management LLC now owns 2,452,786 shares of the company’s stock valued at $68,776,000 after purchasing an additional 63,022 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Perrigo by 40.7% in the first quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company’s stock worth $60,184,000 after acquiring an additional 621,155 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Willis acquired 1,488 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average cost of $24.10 per share, with a total value of $35,860.80. Following the acquisition, the executive vice president owned 41,939 shares of the company’s stock, valued at approximately $1,010,729.90. This trade represents a 3.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $22.74 per share, with a total value of $68,220.00. Following the completion of the acquisition, the chief financial officer directly owned 48,949 shares in the company, valued at approximately $1,113,100.26. This represents a 6.53% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 10,118 shares of company stock valued at $232,699. Company insiders own 0.70% of the company’s stock.

Perrigo Trading Up 1.8%

NYSE PRGO opened at $22.52 on Friday. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -38.82 and a beta of 0.48. Perrigo Company plc has a twelve month low of $21.03 and a twelve month high of $30.93. The business’s fifty day moving average is $25.10 and its 200 day moving average is $26.07. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $1.06 billion for 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 firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s payout ratio is presently -200.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRGO shares. Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Friday, September 5th. JPMorgan Chase & Co. cut their price objective on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group lowered their target price on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.00.

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.