Central Pacific Bank Trust Division Boosts Stock Position in Perrigo Company plc (NYSE:PRGO)

Central Pacific Bank Trust Division raised its position in Perrigo Company plc (NYSE:PRGO) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 500 shares during the period. Central Pacific Bank Trust Division’s holdings in Perrigo were worth $51,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares during the last quarter. FMR LLC increased its stake in shares of Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after acquiring an additional 1,837,538 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Perrigo by 83.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock worth $49,821,000 after acquiring an additional 881,191 shares during the period. AQR Capital Management LLC boosted its position in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after acquiring an additional 845,470 shares during the last quarter. Finally, Copeland Capital Management LLC grew its holdings in Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after purchasing an additional 465,161 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Stock Down 0.2 %

Shares of NYSE PRGO opened at $25.95 on Monday. The stock has a fifty day moving average price of $26.82 and a 200 day moving average price of $26.84. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60. The company has a market cap of $3.54 billion, a P/E ratio of -22.18 and a beta of 0.53.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. Research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, November 29th. Perrigo’s payout ratio is -94.02%.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PRGO shares. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Profile

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.