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.