Vanguard Group Inc. decreased its stake in shares of Perrigo Co. (NYSE:PRGO) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,534,118 shares of the company’s stock after selling 55,533 shares during the period. Vanguard Group Inc. owned about 6.66% of Perrigo worth $864,459,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in PRGO. Amica Retiree Medical Trust bought a new position in shares of Perrigo during the second quarter worth $105,000. Balentine LLC increased its position in shares of Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock worth $134,000 after buying an additional 230 shares during the last quarter. Hall Laurie J Trustee increased its position 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 worth $156,000 after buying an additional 550 shares during the last quarter. MU Investments Co. Ltd. bought a new position in shares of Perrigo during the second quarter worth $176,000. Finally, Smithfield Trust Co. increased its position in shares of Perrigo by 4,352.2% in the second quarter. Smithfield Trust Co. now owns 2,048 shares of the company’s stock worth $186,000 after buying an additional 2,002 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Perrigo Co. (NYSE:PRGO) traded down 1.37% during midday trading on Monday, hitting $96.07. The stock had a trading volume of 119,013 shares. The company’s 50-day moving average price is $91.35 and its 200 day moving average price is $102.06. Perrigo Co. has a 52 week low of $82.50 and a 52 week high of $167.92. The company’s market capitalization is $13.76 billion.
Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.98 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. Perrigo’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. On average, analysts expect that Perrigo Co. will post $7.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were paid 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 0.60%. Perrigo’s dividend payout ratio (DPR) is presently -60.42%.
PRGO has been the topic of several recent analyst reports. B. Riley reaffirmed a “neutral” rating and issued a $101.00 price target on shares of Perrigo in a research report on Sunday, July 3rd. Northland Securities downgraded Perrigo from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $123.00 to $94.00 in a research report on Thursday, August 11th. Zacks Investment Research downgraded 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 target on Perrigo and gave the stock a “hold” rating in a research report on Thursday, August 11th. Finally, Vetr downgraded Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price target on the stock. in a research report on Monday, July 25th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $113.37.
In other Perrigo news, Director Herman Morris, Jr. sold 1,073 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total value of $97,600.08. Following the sale, the director now owns 10,425 shares of the company’s stock, valued at approximately $948,258. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Judy L. Brown sold 2,095 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $88.28, for a total value of $184,946.60. Following the completion of the sale, the executive vice president now directly owns 16,292 shares in the company, valued at approximately $1,438,257.76. The disclosure for this sale can be found here. Company insiders own 4.47% of the company’s stock.
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