Perpetual Ltd Decreases Holdings in Perrigo Company plc (NYSE:PRGO)

Perpetual Ltd lessened its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,914,953 shares of the company's stock after selling 486,454 shares during the period. Perpetual Ltd owned 1.40% of Perrigo worth $53,695,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Perrigo by 6,828.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock valued at $201,710,000 after acquiring an additional 7,732,309 shares during the period. Dimensional Fund Advisors LP increased its position in Perrigo by 0.4% in 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 period. Deprince Race & Zollo Inc. boosted its holdings in Perrigo by 1.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company's stock valued at $117,182,000 after purchasing an additional 50,728 shares in the last quarter. Cooke & Bieler LP boosted its holdings in Perrigo by 4.1% in the 4th quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company's stock valued at $91,879,000 after purchasing an additional 139,650 shares in the last quarter. Finally, Ion Asset Management Ltd. boosted its holdings in Perrigo by 50.1% in the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock valued at $72,502,000 after purchasing an additional 941,667 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Perrigo from a "buy" rating to a "hold" rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perrigo presently has an average rating of "Hold" and an average price target of $33.00.

Perrigo Stock Performance

PRGO traded up $0.19 during trading on Monday, reaching $26.73. The company's stock had a trading volume of 903,109 shares, compared to its average volume of 1,454,320. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $30.93. The company's fifty day moving average price is $26.35 and its 200-day moving average price is $25.99. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -20.40 and a beta of 0.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.36.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 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 analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. On average, equities analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, May 30th. Perrigo's dividend payout ratio (DPR) is -88.55%.

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.