Chevy Chase Trust Holdings Inc. lowered its position in Perrigo Co. (NYSE:PRGO) by 13.9% during the third quarter, Holdings Channel reports. The institutional investor owned 119,563 shares of the company’s stock after selling 19,243 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Perrigo were worth $11,040,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of PRGO. Macquarie Group Ltd. increased its position in shares of Perrigo by 2,279.9% in the second quarter. Macquarie Group Ltd. now owns 84,224 shares of the company’s stock worth $7,637,000 after buying an additional 80,685 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Perrigo during the second quarter worth about $524,000. Kentucky Retirement Systems acquired a new position in shares of Perrigo during the second quarter worth about $1,104,000. Mason Street Advisors LLC acquired a new position in shares of Perrigo during the second quarter worth about $1,749,000. Finally, Sterling Capital Management LLC increased its position in shares of Perrigo by 23.8% in the second quarter. Sterling Capital Management LLC now owns 607,147 shares of the company’s stock worth $55,050,000 after buying an additional 116,815 shares in the last quarter. Institutional investors own 65.78% of the company’s stock.
Perrigo Co. (NYSE:PRGO) traded down 1.67% on Friday, reaching $87.84. The company had a trading volume of 467,754 shares. The firm’s market capitalization is $12.59 billion. The stock’s 50-day moving average price is $87.54 and its 200 day moving average price is $91.85. Perrigo Co. has a 52-week low of $79.72 and a 52-week high of $152.36.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 10th. The company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.07. The company earned $1.40 billion during the quarter, compared to the consensus estimate of $1.28 billion. Perrigo had a positive return on equity of 10.78% and a negative net margin of 26.62%. Perrigo’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. On average, equities analysts anticipate that Perrigo Co. will post $6.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Friday, November 25th will be issued a $0.145 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.58 annualized dividend and a yield of 0.66%. Perrigo’s dividend payout ratio (DPR) is presently -5.53%.
A number of brokerages have commented on PRGO. B. Riley reissued a “neutral” rating and set a $97.00 target price on shares of Perrigo in a report on Wednesday, November 16th. JPMorgan Chase & Co. set a $95.00 target price on Perrigo and gave the company a “hold” rating in a report on Thursday, November 10th. Bank of America Corp. raised Perrigo from an “underperform” rating to a “neutral” rating in a report on Friday, November 11th. RBC Capital Markets set a $92.00 price target on Perrigo and gave the company a “hold” rating in a report on Monday, October 24th. Finally, Argus reaffirmed a “hold” rating on shares of Perrigo in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $109.45.
In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total value of $97,600.08. Following the completion of the transaction, the director now directly owns 10,425 shares in the company, valued at approximately $948,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Judy L. Brown sold 2,096 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $96.76, for a total value of $202,808.96. Following the completion of the transaction, the chief financial officer now owns 14,196 shares of the company’s stock, valued at $1,373,604.96. The disclosure for this sale can be found here. 4.47% of the stock is owned by company insiders.
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.