Ameriprise Financial Inc. Lowers Holdings in Perrigo Company plc (NYSE:PRGO)

Ameriprise Financial Inc. reduced its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 825,071 shares of the company's stock after selling 49,522 shares during the period. Ameriprise Financial Inc. owned 0.60% of Perrigo worth $21,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in Perrigo during the 3rd quarter worth approximately $3,717,000. Barclays PLC increased its holdings in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after acquiring an additional 37,268 shares in the last quarter. Access Investment Management LLC purchased a new stake in Perrigo in the 4th quarter worth $7,989,000. Charles Schwab Investment Management Inc. boosted its stake in Perrigo by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock worth $26,944,000 after purchasing an additional 13,835 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Perrigo during the 4th quarter worth $3,177,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Trading Up 0.6%

PRGO traded up $0.15 on Monday, hitting $27.20. The company had a trading volume of 1,023,214 shares, compared to its average volume of 1,532,399. The firm has a market cap of $3.74 billion, a P/E ratio of -23.25 and a beta of 0.45. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $30.93. The company's fifty day moving average price is $26.25 and its 200 day moving average price is $26.15. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. As a group, equities analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.26%. Perrigo's dividend payout ratio (DPR) is -88.55%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $33.00.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by corporate insiders.

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.