Todays Report: The North Star Asset Management Inc. invests in 43,738 by purchasing Perrigo Co. (PRGO) shares

The North Star Asset Management Inc. invests in 43,738 by purchasing Perrigo Co. (PRGO) shares

North Star Asset Management Inc. boosted its position in Perrigo Co. (NYSE:PRGO) by 60.6% during the second quarter, Holdings Channel reports. The firm owned 115,882 shares of the company’s stock after buying an additional 43,738 shares during the period. Perrigo accounts for 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 22nd largest position. North Star Asset Management Inc.’s holdings in Perrigo were worth $10,507,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Smith Salley & Associates increased its stake in Perrigo by 9.5% in the second quarter. Smith Salley & Associates now owns 32,256 shares of the company’s stock worth $2,924,000 after buying an additional 2,807 shares during the last quarter. Smithfield Trust Co. increased its stake in Perrigo by 4,352.2% in the second quarter. Smithfield Trust Co. now owns 2,048 shares of the company’s stock worth $186,000 after buying an additional 2,002 shares during the last quarter. FTB Advisors Inc. increased its stake in Perrigo by 44.1% in the second quarter. FTB Advisors Inc. now owns 26,240 shares of the company’s stock worth $2,379,000 after buying an additional 8,031 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Perrigo by 21.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 55,460 shares of the company’s stock worth $5,029,000 after buying an additional 9,850 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in Perrigo during the second quarter worth $283,000. 71.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of Perrigo Co. (NYSE:PRGO) traded down 0.28% during mid-day trading on Thursday, hitting $87.75. 681,175 shares of the company’s stock traded hands. The company’s market cap is $12.57 billion. Perrigo Co. has a 52 week low of $82.50 and a 52 week high of $167.92. The firm has a 50-day moving average of $92.55 and a 200 day moving average of $98.44.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts predict that Perrigo Co. will post $7.00 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Friday, August 26th were issued a dividend of $0.145 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.58 annualized dividend and a dividend yield of 0.66%. Perrigo’s dividend payout ratio is presently -60.42%.

PRGO has been the topic of a number of recent research reports. Bank of America Corp. reaffirmed a “sell” rating and set a $109.00 price objective on shares of Perrigo in a report on Wednesday, June 15th. Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Perrigo in a report on Wednesday, June 15th. BTIG Research reaffirmed a “neutral” rating on shares of Perrigo in a report on Friday, June 17th. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Zacks Investment Research raised Perrigo from a “strong sell” rating to a “hold” rating in a report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Perrigo has a consensus rating of “Hold” and a consensus price target of $113.37.

In related news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $88.28, for a total transaction of $184,946.60. Following the sale, the executive vice president now owns 16,292 shares in the company, valued at approximately $1,438,257.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herman Morris, Jr. sold 1,073 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total transaction of $97,600.08. Following the sale, the director now owns 10,425 shares in the company, valued at approximately $948,258. The disclosure for this sale can be found here. Insiders own 4.47% of the company’s stock.

Related posts

Leave a Comment