Advisors Asset Management Inc. Has $341,000 Position in Perrigo Company plc $PRGO

Key Points

• Advisors Asset Management Inc. reduced its shareholding in Perrigo Company plc by 55.5%, now holding 12,163 shares worth approximately $341,000, as revealed in its recent SEC filing.
• In the first quarter, several institutional investors, including Price T Rowe Associates Inc. and Bahl & Gaynor Inc., significantly increased their stakes in Perrigo by over 40%.
• Perrigo announced a quarterly dividend of $0.29 per share, with an annualized yield of 5.2%, to be paid on September 16th to shareholders of record as of August 29th.

Advisors Asset Management Inc. lowered its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 55.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,163 shares of the company's stock after selling 15,170 shares during the period. Advisors Asset Management Inc.'s holdings in Perrigo were worth $341,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Perrigo in the first quarter valued at $42,000. Parallel Advisors LLC increased its stake in shares of Perrigo by 176.9% in the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after acquiring an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Perrigo by 138.3% in the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock worth $49,000 after acquiring an additional 1,018 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Perrigo by 62.0% in the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after acquiring an additional 849 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Perrigo by 110.4% in the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after acquiring an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Perrigo Trading Up 0.0%

PRGO traded up $0.00 during trading on Wednesday, reaching $21.37. 151,409 shares of the company's stock were exchanged, compared to its average volume of 1,480,196. The company's fifty day moving average price is $24.79 and its 200-day moving average price is $25.99. The firm has a market capitalization of $2.94 billion, a PE ratio of -36.90 and a beta of 0.48. Perrigo Company plc has a fifty-two week low of $21.03 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32.

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

Perrigo Announces Dividend

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

Insider Activity

In related news, EVP Abigail Lennox acquired 1,255 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were acquired at an average cost of $22.41 per share, with a total value of $28,124.55. Following the transaction, the executive vice president owned 1,255 shares of the company's stock, valued at $28,124.55. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Willis acquired 1,488 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the transaction, the executive vice president directly owned 41,939 shares in the company, valued at $1,010,729.90. This represents a 3.68% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,118 shares of company stock valued at $232,699. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Canaccord Genuity Group lowered their target price on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Perrigo presently has a consensus rating of "Hold" and a consensus price target of $33.00.

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.