Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Perrigo Company plc (NYSE:PRGO – Get Rating) by 61.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,190 shares of the company’s stock after selling 11,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Perrigo were worth $292,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of PRGO. CIBC Private Wealth Group LLC bought a new stake in shares of Perrigo in the 2nd quarter worth $32,000. Washington Trust Advisors Inc. bought a new stake in shares of Perrigo in the 2nd quarter worth $39,000. Venture Visionary Partners LLC bought a new stake in shares of Perrigo in the 2nd quarter worth $41,000. Covestor Ltd increased its holdings in shares of Perrigo by 5,903.6% in the 1st quarter. Covestor Ltd now owns 1,681 shares of the company’s stock worth $65,000 after purchasing an additional 1,653 shares in the last quarter. Finally, Focused Wealth Management Inc increased its holdings in shares of Perrigo by 1,950.5% in the 2nd quarter. Focused Wealth Management Inc now owns 1,866 shares of the company’s stock worth $76,000 after purchasing an additional 1,775 shares in the last quarter. Institutional investors own 96.41% of the company’s stock.
Wall Street Analyst Weigh In
PRGO has been the subject of several research analyst reports. StockNews.com initiated coverage on Perrigo in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company raised Perrigo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $48.00 to $54.00 in a report on Tuesday, September 6th. Raymond James cut their price objective on Perrigo from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Finally, Argus raised Perrigo from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, September 14th.
Perrigo Trading Up 0.5 %
Perrigo (NYSE:PRGO – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.12). Perrigo had a negative net margin of 1.93% and a positive return on equity of 5.31%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Perrigo Company plc will post 2.02 earnings per share for the current fiscal year.
Perrigo Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, December 1st. Perrigo’s dividend payout ratio is presently -165.08%.
Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International.
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