Russell Investments Group Ltd. Has $22.21 Million Stake in Perrigo Company plc $PRGO

Key Points

• Russell Investments Group Ltd. reduced its stake in Perrigo Company plc by 7.5%, selling 64,430 shares to hold approximately 792,050 shares valued at $22.2 million.
• Analysts have issued mixed ratings on Perrigo, with a consensus rating of "Moderate Buy" and a target price of $33.00, while recent reports indicate a miss in earnings with $0.57 EPS compared to expectations.
• Perrigo recently announced a quarterly dividend of $0.29 per share, representing a 5.1% yield, set to be paid to stockholders on September 16th.

Russell Investments Group Ltd. lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 792,050 shares of the company's stock after selling 64,430 shares during the quarter. Russell Investments Group Ltd. owned 0.58% of Perrigo worth $22,209,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PRGO. American Assets Inc. acquired a new stake in Perrigo during the 4th quarter worth $386,000. LPL Financial LLC raised its stake in shares of Perrigo by 34.4% in the 4th quarter. LPL Financial LLC now owns 37,738 shares of the company's stock valued at $970,000 after purchasing an additional 9,663 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Perrigo in the 4th quarter valued at about $3,177,000. Sterling Capital Management LLC raised its stake in shares of Perrigo by 51.8% in the 4th quarter. Sterling Capital Management LLC now owns 8,144 shares of the company's stock valued at $209,000 after purchasing an additional 2,780 shares during the period. Finally, Barclays PLC raised its stake in shares of Perrigo by 90.0% in the 4th quarter. Barclays PLC now owns 228,908 shares of the company's stock valued at $5,886,000 after purchasing an additional 108,406 shares during the period. Institutional investors and hedge funds own 95.91% of the company's stock.

Insider Buying and Selling

In other Perrigo news, CFO Eduardo Guarita Bezerra purchased 3,000 shares of the stock in a transaction on Monday, August 18th. The shares were purchased at an average price of $22.74 per share, with a total value of $68,220.00. Following the completion of the transaction, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. This represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey M. Parker bought 4,375 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the transaction, the director directly owned 33,287 shares of the company's stock, valued at $764,602.39. The trade was a 15.13% increase in their position. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.

Perrigo Stock Performance

NYSE PRGO traded up $0.5350 during trading on Tuesday, reaching $23.5650. 1,762,521 shares of the company's stock were exchanged, compared to its average volume of 1,486,835. The business has a 50 day moving average price of $26.36 and a 200-day moving average price of $26.27. The stock has a market capitalization of $3.24 billion, a P/E ratio of -40.63 and a beta of 0.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. Perrigo Company plc has a fifty-two week low of $21.03 and a fifty-two week high of $30.93.

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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.Perrigo's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's payout ratio is -200.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen raised Perrigo from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price target on Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group lowered their target price on Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.