Principal Financial Group Inc. Trims Stock Position in Perrigo Company plc (NYSE:PRGO)

Principal Financial Group Inc. lowered its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 30.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,058 shares of the company’s stock after selling 137,826 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Perrigo worth $8,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PRGO. Van ECK Associates Corp boosted its stake in Perrigo by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 117,661 shares of the company’s stock worth $2,987,000 after purchasing an additional 11,165 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Perrigo by 155.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,021 shares of the company’s stock valued at $1,391,000 after acquiring an additional 32,272 shares during the period. Voisard Asset Management Group Inc. grew its position in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after acquiring an additional 450 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Perrigo by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,709 shares of the company’s stock valued at $412,000 after buying an additional 1,075 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in Perrigo in the 3rd quarter valued at about $1,443,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Trading Up 1.3 %

Shares of PRGO opened at $27.24 on Wednesday. The firm’s 50-day moving average is $25.97 and its two-hundred day moving average is $27.17. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.72 billion, a P/E ratio of -23.28 and a beta of 0.48.

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

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Analyst Ratings Changes

A number of analysts have issued reports on PRGO shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. This trade represents a 38.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company 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.