State of New Jersey Common Pension Fund D decreased its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 40.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock after selling 20,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Perrigo were worth $1,429,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in Perrigo during the 2nd quarter worth about $188,000. Commonwealth Equity Services LLC raised its holdings in Perrigo by 1.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,941 shares of the company’s stock worth $1,521,000 after buying an additional 442 shares during the period. Oakbrook Investments LLC raised its holdings in Perrigo by 96.2% during the 2nd quarter. Oakbrook Investments LLC now owns 12,400 shares of the company’s stock worth $590,000 after buying an additional 6,080 shares during the period. CenturyLink Investment Management Co acquired a new position in shares of Perrigo in the 2nd quarter valued at about $998,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Perrigo by 17.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 44,022 shares of the company’s stock valued at $2,096,000 after purchasing an additional 6,678 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.
NYSE:PRGO traded up $0.18 during mid-day trading on Friday, reaching $52.77. The stock had a trading volume of 32,837 shares, compared to its average volume of 1,007,903. The company has a 50 day moving average of $49.29. Perrigo Company PLC has a fifty-two week low of $36.28 and a fifty-two week high of $79.02. The company has a market cap of $7.38 billion, a PE ratio of 11.62, a P/E/G ratio of 3.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 1.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be given a $0.21 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. Perrigo’s dividend payout ratio is 18.46%.
A number of equities analysts have recently weighed in on the company. Wells Fargo & Co reiterated a “hold” rating on shares of Perrigo in a report on Tuesday, July 2nd. Cantor Fitzgerald dropped their price objective on Perrigo from $107.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. SunTrust Banks increased their price objective on Perrigo to $51.00 and gave the stock a “hold” rating in a report on Monday, May 20th. Finally, ValuEngine upgraded Perrigo from a “strong sell” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Perrigo currently has a consensus rating of “Hold” and an average price target of $65.75.
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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