Yousif Capital Management LLC Trims Stock Position in Perrigo Company plc $PRGO

Yousif Capital Management LLC cut its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,950 shares of the company’s stock after selling 1,152 shares during the quarter. Yousif Capital Management LLC’s holdings in Perrigo were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 3,227,487 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 146,211 shares in the last quarter. Sound Shore Management Inc. CT grew its stake in shares of 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 buying an additional 616,387 shares in the last quarter. Ion Asset Management Ltd. boosted its holdings in Perrigo by 0.5% in the first quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company’s stock valued at $79,462,000 after purchasing an additional 13,894 shares during the last quarter. Finally, Copeland Capital Management LLC boosted 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. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Abigail Lennox purchased 1,255 shares of Perrigo stock in a transaction on Monday, September 8th. The stock was bought at an average price of $22.41 per share, with a total value of $28,124.55. Following the completion of the transaction, the executive vice president directly owned 1,255 shares of the company’s stock, valued at approximately $28,124.55. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eduardo Guarita Bezerra purchased 3,000 shares of Perrigo stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $22.74 per share, with a total value of $68,220.00. Following the transaction, the chief financial officer directly owned 48,949 shares of the company’s stock, valued at approximately $1,113,100.26. The trade was a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 10,118 shares of company stock worth $232,699 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. Wall Street Zen downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Canaccord Genuity Group cut 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 equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.00.

Perrigo Stock Performance

Shares of PRGO stock opened at $21.93 on Wednesday. Perrigo Company plc has a 1-year low of $20.51 and a 1-year high of $30.93. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -37.81 and a beta of 0.43. The stock’s fifty day simple moving average is $22.35 and its 200-day simple moving average is $24.90.

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

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.3%. Perrigo’s dividend payout ratio (DPR) is presently -200.00%.

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.