Perrigo Company PLC (PRGO) Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Perrigo Company PLC (NYSE:PRGO) by 20.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,717 shares of the company’s stock after acquiring an additional 7,959 shares during the period. State of Alaska Department of Revenue’s holdings in Perrigo were worth $2,297,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PRGO. Man Group plc raised its position in shares of Perrigo by 754.0% during the 3rd quarter. Man Group plc now owns 113,206 shares of the company’s stock worth $8,015,000 after purchasing an additional 99,950 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Perrigo by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,641 shares of the company’s stock valued at $1,187,000 after acquiring an additional 2,400 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Perrigo during the 4th quarter valued at about $26,000. Nippon Life Global Investors Americas Inc. grew its stake in Perrigo by 49.5% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 45,850 shares of the company’s stock valued at $1,778,000 after acquiring an additional 15,190 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in Perrigo during the 4th quarter valued at about $984,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Shares of Perrigo stock traded up $3.44 during mid-day trading on Thursday, hitting $52.62. The stock had a trading volume of 2,870,203 shares, compared to its average volume of 1,392,643. Perrigo Company PLC has a 12-month low of $36.28 and a 12-month high of $80.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 1.32. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.13. Perrigo had a net margin of 2.77% and a return on equity of 10.74%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $1.26 EPS. Equities analysts expect that Perrigo Company PLC will post 4.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st will be issued a $0.21 dividend. This is a positive change from Perrigo’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, May 30th. Perrigo’s dividend payout ratio is currently 16.70%.

Several analysts recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Perrigo in a research note on Tuesday, March 19th. They set a “hold” rating and a $51.00 price objective for the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $107.00 price objective on shares of Perrigo in a research note on Wednesday. ValuEngine cut shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Royal Bank of Canada set a $48.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Thursday, February 28th. Finally, Wells Fargo & Co set a $47.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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