US Bancorp DE boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 430.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,618 shares of the company's stock after purchasing an additional 13,483 shares during the quarter. US Bancorp DE's holdings in Perrigo were worth $466,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Picton Mahoney Asset Management purchased a new stake in Perrigo in the 1st quarter worth about $42,000. Parallel Advisors LLC boosted its stake in Perrigo by 176.9% during 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock valued at $49,000 after purchasing an additional 1,018 shares during the last quarter. Fifth Third Bancorp raised 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 buying an additional 849 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Perrigo by 110.4% during the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock valued at $73,000 after buying an additional 1,374 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PRGO. Canaccord Genuity Group set a $40.00 target price on Perrigo and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $33.00.
Read Our Latest Report on Perrigo
Perrigo Price Performance
PRGO stock traded down $0.30 on Friday, hitting $22.73. 1,173,412 shares of the company's stock traded hands, compared to its average volume of 1,485,413. Perrigo Company plc has a 1-year low of $21.03 and a 1-year high of $30.93. The stock has a fifty day moving average of $26.49 and a 200-day moving average of $26.28. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -39.19 and a beta of 0.47.
Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. 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 EPS. On average, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.
Perrigo Dividend Announcement
The business also recently declared 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 of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.1%. Perrigo's payout ratio is presently -200.00%.
Perrigo Profile
(
Free Report)
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.
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