Jump Financial LLC Sells 39,065 Shares of Perrigo Company plc $PRGO

Key Points

• Jump Financial LLC has significantly reduced its holdings in Perrigo Company plc by 66.4%, selling 39,065 shares in the first quarter and holding 19,800 shares valued at $555,000 thereafter.
• Several large investors have increased their stakes in Perrigo, with Price T Rowe Associates raising its ownership by 41.1%, now holding over 11 million shares valued at approximately $310 million.
• Perrigo announced a quarterly dividend of $0.29 per share, with an annualized yield of 4.9%, set to be paid on September 16th to shareholders of record as of August 29th.

Jump Financial LLC trimmed its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 66.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,800 shares of the company's stock after selling 39,065 shares during the quarter. Jump Financial LLC's holdings in Perrigo were worth $555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in 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 purchasing an additional 3,227,487 shares during the period. Dimensional Fund Advisors LP boosted its stake in Perrigo by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company's stock worth $200,085,000 after purchasing an additional 146,211 shares during the period. Deprince Race & Zollo Inc. boosted its stake in Perrigo by 1.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company's stock worth $117,182,000 after purchasing an additional 50,728 shares during the period. Sound Shore Management Inc. CT boosted its stake in 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 purchasing an additional 616,387 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Perrigo by 2.6% in the 1st quarter. Copeland Capital Management LLC now owns 2,452,786 shares of the company's stock worth $68,776,000 after purchasing an additional 63,022 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Perrigo Trading Down 1.1%

Shares of PRGO traded down $0.25 during midday trading on Thursday, hitting $23.09. The stock had a trading volume of 467,890 shares, compared to its average volume of 1,469,419. Perrigo Company plc has a 1 year low of $21.03 and a 1 year high of $30.93. The firm has a market cap of $3.18 billion, a PE ratio of -39.83 and a beta of 0.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock's 50 day moving average is $25.63 and its 200 day moving average is $26.17.

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

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.0%. Perrigo's dividend payout ratio (DPR) is presently -200.00%.

Insiders Place Their Bets

In other Perrigo news, Director Geoffrey M. Parker bought 4,375 shares of Perrigo stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the purchase, the director directly owned 33,287 shares in the company, valued at approximately $764,602.39. This trade represents a 15.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eduardo Guarita Bezerra bought 3,000 shares of Perrigo 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 trade represents a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,863 shares of company stock worth $204,575 over the last quarter. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PRGO shares. JPMorgan Chase & Co. decreased their price objective on Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Canaccord Genuity Group decreased their price objective on Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen cut Perrigo from a "buy" rating to a "hold" rating in a report on Sunday, August 24th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.00.

Perrigo Company 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.