36,132 Shares in Perrigo Company plc $PRGO Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc purchased 36,132 shares of Perrigo Company plc, valued at approximately $965,000, during the second quarter.
• Perrigo's stock received mixed ratings from analysts, with a current average rating of Hold and an average target price of $34.00.
• The company announced a quarterly dividend of $0.29 per share, yielding 5.4%, despite a payout ratio of -200.00%.

TD Asset Management Inc bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,132 shares of the company's stock, valued at approximately $965,000.

A number of other institutional investors have also recently made changes to their positions in PRGO. Price T Rowe Associates Inc. MD increased its holdings in shares of Perrigo by 41.1% in the 1st 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 last quarter. Millennium Management LLC increased its holdings in shares of Perrigo by 5,198.0% in the 1st quarter. Millennium Management LLC now owns 2,052,599 shares of the company's stock worth $57,555,000 after buying an additional 2,013,856 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Perrigo by 126.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company's stock worth $32,520,000 after buying an additional 647,982 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Perrigo by 40.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company's stock worth $60,184,000 after buying an additional 621,155 shares during the last quarter. Finally, Sound Shore Management Inc. CT increased its holdings in shares of Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company's stock worth $92,116,000 after buying an additional 616,387 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Wall Street Analyst Weigh In

PRGO has been the topic of several recent research reports. Wall Street Zen lowered shares of Perrigo from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. Canaccord Genuity Group dropped their price target on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Perrigo in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $34.00.

Perrigo Stock Performance

PRGO opened at $21.67 on Thursday. 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 cap of $2.98 billion, a price-to-earnings ratio of -37.35 and a beta of 0.43. The company's 50 day moving average is $22.31 and its 200 day moving average is $24.88. Perrigo Company plc has a 12-month low of $20.51 and a 12-month high of $30.93.

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

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.4%. Perrigo's payout ratio is -200.00%.

Insider Activity

In other Perrigo news, CFO Eduardo Guarita Bezerra purchased 3,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was acquired at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the purchase, the chief financial officer owned 48,949 shares of the company's stock, valued at approximately $1,113,100.26. This represents a 6.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Willis acquired 1,488 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $24.10 per share, with a total value of $35,860.80. Following the purchase, the executive vice president owned 41,939 shares of the company's stock, valued at approximately $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 10,118 shares of company stock worth $232,699. 0.70% of the stock is currently owned by corporate insiders.

About Perrigo

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.

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