Conning Inc. decreased its position in shares of Perrigo Co. (NYSE:PRGO) by 40.0% during the second quarter, Holdings Channel reports. The firm owned 3,520 shares of the company’s stock after selling 2,348 shares during the period. Conning Inc.’s holdings in Perrigo were worth $319,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Balentine LLC increased its stake in shares of Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock valued at $134,000 after buying an additional 230 shares during the last quarter. Gardiner Nancy B acquired a new stake in shares of Perrigo during the first quarter valued at $207,000. Hall Laurie J Trustee increased its stake in shares of Perrigo by 49.1% in the second quarter. Hall Laurie J Trustee now owns 1,670 shares of the company’s stock valued at $156,000 after buying an additional 550 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Perrigo by 1.5% in the first quarter. IFP Advisors Inc now owns 1,817 shares of the company’s stock valued at $232,000 after buying an additional 27 shares during the last quarter. Finally, Trust Co increased its stake in shares of Perrigo by 0.6% in the first quarter. Trust Co now owns 2,610 shares of the company’s stock valued at $334,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Shares of Perrigo Co. (NYSE:PRGO) traded up 0.31% during trading on Tuesday, reaching $94.07. The company had a trading volume of 2,017,632 shares. The firm’s market capitalization is $13.48 billion. The firm has a 50-day moving average of $92.31 and a 200 day moving average of $99.67. Perrigo Co. has a 1-year low of $82.50 and a 1-year high of $167.92.
Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 10th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business posted $2.18 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Analysts expect that Perrigo Co. will post $7.00 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.58 dividend on an annualized basis and a yield of 0.62%. Perrigo’s dividend payout ratio (DPR) is currently -60.42%.
Several brokerages have recently weighed in on PRGO. Bank of America Corp. reiterated a “sell” rating and issued a $109.00 price target on shares of Perrigo in a report on Wednesday, June 15th. BTIG Research reiterated a “neutral” rating on shares of Perrigo in a report on Friday, June 17th. Raymond James Financial Inc. reiterated a “hold” rating on shares of Perrigo in a report on Wednesday, June 15th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Finally, Vetr cut Perrigo from a “buy” rating to a “hold” rating and set a $98.60 price objective on the stock. in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. Perrigo presently has a consensus rating of “Hold” and an average target price of $113.37.
In other Perrigo news, CFO Judy L. Brown sold 2,096 shares of Perrigo stock in a transaction on Monday, September 26th. The shares were sold at an average price of $96.76, for a total value of $202,808.96. Following the transaction, the chief financial officer now owns 14,196 shares in the company, valued at approximately $1,373,604.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Judy L. Brown sold 2,095 shares of Perrigo stock in a transaction on Friday, August 26th. The shares were sold at an average price of $88.28, for a total transaction of $184,946.60. Following the completion of the transaction, the executive vice president now owns 16,292 shares in the company, valued at approximately $1,438,257.76. The disclosure for this sale can be found here. Corporate insiders own 4.47% of the company’s stock.
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