AQR Capital Management LLC Has $4.99 Million Stake in Perrigo Company plc $PRGO

AQR Capital Management LLC trimmed its stake in shares of Perrigo Company plc (NYSE:PRGO) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,722 shares of the company’s stock after selling 18,404 shares during the period. AQR Capital Management LLC owned about 0.13% of Perrigo worth $4,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Perrigo by 41.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock worth $310,488,000 after acquiring an additional 3,227,487 shares during the period. Dimensional Fund Advisors LP grew its position 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 in the last quarter. Sound Shore Management Inc. CT grew its position 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 in the last quarter. Copeland Capital Management LLC grew its position 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 in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Perrigo by 40.7% in the first quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company’s stock valued at $60,184,000 after purchasing an additional 621,155 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PRGO shares. JPMorgan Chase & Co. decreased their target price on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Canaccord Genuity Group decreased 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

Perrigo Stock Performance

NYSE PRGO opened at $22.26 on Friday. The firm has a 50-day moving average of $25.00 and a 200-day moving average of $26.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The stock has a market cap of $3.06 billion, a PE ratio of -38.38 and a beta of 0.48. Perrigo Company plc has a 52-week low of $21.03 and a 52-week high of $30.93.

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

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 5.2%. Perrigo’s payout ratio is -200.00%.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Geoffrey M. Parker acquired 4,375 shares of the company’s stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $22.97 per share, for a total transaction of $100,493.75. Following the purchase, the director directly owned 33,287 shares of the company’s stock, valued at $764,602.39. This trade represents a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Abigail Lennox acquired 1,255 shares of the company’s stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $22.41 per share, with a total value of $28,124.55. Following the purchase, the executive vice president directly owned 1,255 shares in the company, valued at approximately $28,124.55. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 10,118 shares of company stock worth $232,699 over the last quarter. Company insiders own 0.70% of the company’s stock.

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.