Perrigo Company plc (NYSE:PRGO) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in Perrigo Company plc (NYSE:PRGO) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,709 shares of the company’s stock after purchasing an additional 1,075 shares during the quarter. State of Alaska Department of Revenue’s holdings in Perrigo were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Perrigo by 4,017.5% in the first quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock worth $4,158,000 after buying an additional 126,028 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Perrigo by 6.7% in the 1st quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company’s stock worth $25,982,000 after purchasing an additional 50,871 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Perrigo during the 1st quarter worth approximately $2,425,000. AQR Capital Management LLC increased its holdings in shares of Perrigo by 675.5% during the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock valued at $24,926,000 after purchasing an additional 845,470 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Perrigo by 31.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 54,649 shares of the company’s stock valued at $1,759,000 after purchasing an additional 13,176 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Trading Down 2.1 %

Shares of Perrigo stock opened at $26.37 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The firm has a market capitalization of $3.60 billion, a PE ratio of -22.53 and a beta of 0.48. The firm’s 50-day moving average price is $26.13 and its 200 day moving average price is $27.50.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now owns 20,553 shares of the company’s stock, valued at $604,258.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by insiders.

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.