Northern Trust Corp Increases Position in Perrigo Company plc (NYSE:PRGO)

Northern Trust Corp increased its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 21.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,390,007 shares of the company's stock after buying an additional 246,098 shares during the period. Northern Trust Corp owned about 1.02% of Perrigo worth $35,737,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Headlands Technologies LLC grew its stake in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after acquiring an additional 1,340 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after purchasing an additional 929 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock valued at $108,000 after purchasing an additional 2,084 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Perrigo in the fourth quarter worth about $149,000. Finally, Sterling Capital Management LLC lifted its position in shares of Perrigo by 51.8% in the fourth quarter. Sterling Capital Management LLC now owns 8,144 shares of the company's stock worth $209,000 after buying an additional 2,780 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRGO has been the topic of a number of research reports. StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Argus lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Perrigo presently has an average rating of "Hold" and an average target price of $33.00.

Perrigo Stock Performance

NYSE:PRGO opened at $27.00 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock's fifty day moving average is $26.43 and its 200 day moving average is $26.11. The firm has a market capitalization of $3.68 billion, a PE ratio of -23.08 and a beta of 0.45. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $31.32.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.29 EPS. The business's revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.30%. Perrigo's payout ratio 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.

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