Brown Brothers Harriman & Co. lessened its stake in Perrigo Company plc (NYSE:PRGO) by 44.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,283 shares of the company’s stock after selling 24,128 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Perrigo were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in shares of Perrigo by 31.4% during the second quarter. Parallel Advisors LLC now owns 882 shares of the company’s stock worth $40,000 after purchasing an additional 211 shares in the last quarter. Eaton Vance Management bought a new position in Perrigo in the 1st quarter worth approximately $39,000. SRS Capital Advisors Inc. acquired a new position in Perrigo during the 2nd quarter worth $68,000. Captrust Financial Advisors boosted its position in Perrigo by 39.6% in the 1st quarter. Captrust Financial Advisors now owns 2,123 shares of the company’s stock valued at $86,000 after buying an additional 602 shares during the last quarter. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of Perrigo in the 1st quarter valued at $104,000. Hedge funds and other institutional investors own 86.26% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price target on Perrigo from $51.00 to $48.00 and set a “sector perform” rating on the stock in a report on Thursday, August 12th. Raymond James upgraded shares of Perrigo from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a research report on Thursday. Finally, Jefferies Financial Group raised shares of Perrigo from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $63.00 in a research note on Thursday, September 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Perrigo currently has an average rating of “Hold” and a consensus target price of $52.80.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, August 11th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.11). The firm had revenue of $981.10 million during the quarter, compared to analyst estimates of $1.02 billion. Perrigo had a negative net margin of 7.77% and a positive return on equity of 6.89%. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, equities analysts forecast that Perrigo Company plc will post 2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 21st. Stockholders of record on Friday, September 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.14%. Perrigo’s dividend payout ratio (DPR) is presently 23.88%.
Perrigo Co Plc provides self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The company was founded by Luther Perrigo in 1887 and is headquartered in Dublin, Ireland.
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