Bank of New York Mellon Corp Trims Position in Perrigo Company plc (NYSE:PRGO)

Bank of New York Mellon Corp trimmed its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 983,941 shares of the company's stock after selling 44,231 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of Perrigo worth $27,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD grew its stake in shares of Perrigo by 6,828.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock worth $201,710,000 after acquiring an additional 7,732,309 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Perrigo by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company's stock valued at $179,698,000 after acquiring an additional 27,835 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Perrigo by 1.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company's stock valued at $117,182,000 after buying an additional 50,728 shares in the last quarter. Ion Asset Management Ltd. raised its holdings in shares of Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock valued at $72,502,000 after buying an additional 941,667 shares in the last quarter. Finally, Sound Shore Management Inc. CT raised its holdings in shares of Perrigo by 0.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company's stock valued at $68,614,000 after buying an additional 9,868 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Trading Up 0.2%

Shares of PRGO stock traded up $0.06 during trading hours on Thursday, reaching $27.15. The company's stock had a trading volume of 709,338 shares, compared to its average volume of 1,430,528. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. Perrigo Company plc has a one year low of $23.14 and a one year high of $30.93. The stock has a market capitalization of $3.73 billion, a P/E ratio of -20.73 and a beta of 0.45. The firm's fifty day simple moving average is $26.81 and its 200 day simple moving average is $26.10.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The firm's revenue was down 3.5% on a year-over-year basis. Equities research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, May 30th. Perrigo's dividend payout ratio is currently -88.55%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Perrigo from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.00.

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.