QS Investors LLC Trims Stake in Perrigo Company PLC (PRGO)

QS Investors LLC decreased its holdings in Perrigo Company PLC (NYSE:PRGO) by 84.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,117 shares of the company’s stock after selling 38,093 shares during the quarter. QS Investors LLC’s holdings in Perrigo were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. LS Investment Advisors LLC lifted its holdings in Perrigo by 5.9% in the fourth quarter. LS Investment Advisors LLC now owns 4,317 shares of the company’s stock valued at $167,000 after buying an additional 239 shares during the period. Prudential Financial Inc. lifted its holdings in Perrigo by 0.3% in the fourth quarter. Prudential Financial Inc. now owns 134,445 shares of the company’s stock valued at $5,210,000 after buying an additional 339 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in Perrigo by 3.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,692 shares of the company’s stock valued at $453,000 after buying an additional 414 shares during the period. Bessemer Group Inc. lifted its holdings in Perrigo by 9.2% in the fourth quarter. Bessemer Group Inc. now owns 4,930 shares of the company’s stock valued at $191,000 after buying an additional 415 shares during the period. Finally, United Services Automobile Association lifted its holdings in Perrigo by 1.2% in the fourth quarter. United Services Automobile Association now owns 42,561 shares of the company’s stock valued at $1,649,000 after buying an additional 521 shares during the period. 85.29% of the stock is currently owned by institutional investors.

Shares of NYSE PRGO traded up $0.04 during trading on Monday, hitting $50.41. 762,410 shares of the company traded hands, compared to its average volume of 1,376,830. Perrigo Company PLC has a fifty-two week low of $36.28 and a fifty-two week high of $83.26. The firm has a market capitalization of $6.84 billion, a P/E ratio of 11.08, a P/E/G ratio of 2.57 and a beta of 1.31. The company has a current ratio of 1.89, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). Perrigo had a net margin of 2.77% and a return on equity of 10.74%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the company posted $1.28 EPS. Perrigo’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts forecast that Perrigo Company PLC will post 4.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Perrigo’s dividend payout ratio is currently 16.70%.

Several research firms recently issued reports on PRGO. Morgan Stanley dropped their target price on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 26th. ValuEngine upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. SunTrust Banks began coverage on shares of Perrigo in a report on Tuesday, March 19th. They issued a “hold” rating and a $51.00 target price on the stock. Royal Bank of Canada set a $50.00 target price on shares of Perrigo and gave the company a “hold” rating in a report on Friday, January 4th. Finally, Wells Fargo & Co set a $47.00 target price on shares of Perrigo and gave the company a “hold” rating in a report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Perrigo presently has a consensus rating of “Hold” and a consensus target price of $74.33.

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About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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