Mizuho Asset Management Co. Ltd. increased its stake in shares of Perrigo Co. (NYSE:PRGO) by 105.3% during the second quarter, Holdings Channel reports. The firm owned 1,932 shares of the company’s stock after buying an additional 991 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Perrigo were worth $175,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Parnassus Investments CA boosted its stake in Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock valued at $498,584,000 after buying an additional 1,922,347 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Perrigo by 29.5% in the first quarter. Franklin Resources Inc. now owns 2,627,510 shares of the company’s stock valued at $336,140,000 after buying an additional 599,150 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Perrigo during the second quarter valued at approximately $210,657,000. Aberdeen Asset Management PLC UK boosted its position in shares of Perrigo by 23.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 2,322,257 shares of the company’s stock valued at $210,559,000 after buying an additional 443,511 shares during the period. Finally, Manning & Napier Advisors LLC boosted its position in shares of Perrigo by 157.9% in the second quarter. Manning & Napier Advisors LLC now owns 2,263,634 shares of the company’s stock valued at $205,242,000 after buying an additional 1,385,904 shares during the period. Institutional investors own 71.11% of the company’s stock.
Shares of Perrigo Co. (NYSE:PRGO) traded up 1.1684% during mid-day trading on Thursday, reaching $94.7847. The company had a trading volume of 42,759 shares. The firm’s 50-day moving average price is $91.12 and its 200 day moving average price is $102.32. The company’s market cap is $13.58 billion. Perrigo Co. has a 52-week low of $82.50 and a 52-week high of $170.73.
Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities analysts expect that Perrigo Co. will post $7.06 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders 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 dividend yield of 0.62%. Perrigo’s payout ratio is -60.42%.
Several brokerages recently commented on PRGO. B. Riley reaffirmed a “neutral” rating and issued a $101.00 target price on shares of Perrigo in a research report on Sunday, July 3rd. Northland Securities cut Perrigo from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $123.00 to $94.00 in a research report on Thursday, August 11th. Zacks Investment Research cut Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. JPMorgan Chase & Co. set a $90.00 price objective on Perrigo and gave the stock a “hold” rating in a research note on Thursday, August 11th. Finally, Vetr lowered Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price objective for the company. in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $113.37.
In related news, Director Gary K. Kunkle, Jr. sold 5,814 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $89.95, for a total transaction of $522,969.30. Following the completion of the sale, the director now directly owns 31,501 shares in the company, valued at approximately $2,833,514.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Judy L. Brown sold 2,095 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $88.28, for a total value of $184,946.60. Following the sale, the executive vice president now owns 16,292 shares of the company’s stock, valued at $1,438,257.76. The disclosure for this sale can be found here. Insiders own 4.47% of the company’s stock.
Want to see what other hedge funds are holding PRGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perrigo Co. (NYSE:PRGO).
Receive News & Ratings for Perrigo Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo Co. and related companies with MarketBeat.com's FREE daily email newsletter.