Perrigo Company PLC (NYSE:PRGO) Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 68.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,758 shares of the company’s stock after selling 306,589 shares during the period. JPMorgan Chase & Co.’s holdings in Perrigo were worth $6,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. State Treasurer State of Michigan lifted its holdings in shares of Perrigo by 0.6% in the first quarter. State Treasurer State of Michigan now owns 36,022 shares of the company’s stock valued at $1,735,000 after purchasing an additional 200 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Perrigo by 1.2% during the first quarter. Mason Street Advisors LLC now owns 17,833 shares of the company’s stock worth $859,000 after acquiring an additional 211 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Perrigo by 5.9% during the fourth quarter. LS Investment Advisors LLC now owns 4,317 shares of the company’s stock worth $167,000 after acquiring an additional 239 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Perrigo by 4.4% during the first quarter. Gateway Investment Advisers LLC now owns 6,270 shares of the company’s stock worth $302,000 after acquiring an additional 262 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Perrigo by 0.3% during the fourth quarter. Prudential Financial Inc. now owns 134,445 shares of the company’s stock worth $5,210,000 after acquiring an additional 339 shares during the period. Institutional investors own 86.02% of the company’s stock.

Shares of PRGO stock opened at $43.44 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.64 and a quick ratio of 1.14. The company has a market capitalization of $5.98 billion, a P/E ratio of 9.55, a P/E/G ratio of 2.68 and a beta of 1.31. Perrigo Company PLC has a 1 year low of $36.28 and a 1 year high of $80.66.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, May 8th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.13. Perrigo had a return on equity of 10.40% and a net margin of 2.43%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $1.26 earnings per share. As a group, analysts predict that Perrigo Company PLC will post 3.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 30th. This is a boost from Perrigo’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.93%. Perrigo’s dividend payout ratio is presently 18.46%.

PRGO has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $107.00 price objective on shares of Perrigo in a report on Wednesday, May 8th. Morgan Stanley reduced their price objective on Perrigo from $67.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, March 26th. SunTrust Banks initiated coverage on Perrigo in a report on Tuesday, March 19th. They set a “hold” rating and a $51.00 price objective for the company. Royal Bank of Canada set a $48.00 price objective on Perrigo and gave the stock a “hold” rating in a report on Thursday, February 28th. Finally, Wells Fargo & Co set a $47.00 price target on Perrigo and gave the company a “hold” rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Perrigo has a consensus rating of “Hold” and a consensus target price of $66.54.

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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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