Philadelphia Trust Co. Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Philadelphia Trust Co. reduced its stake in Perrigo Company plc (NYSE:PRGO) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,812 shares of the company’s stock after selling 4,553 shares during the quarter. Philadelphia Trust Co.’s holdings in Perrigo were worth $1,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Assets Inc. purchased a new position in shares of Perrigo during the 4th quarter valued at approximately $386,000. LPL Financial LLC grew its stake in Perrigo by 34.4% in the 4th quarter. LPL Financial LLC now owns 37,738 shares of the company’s stock valued at $970,000 after acquiring an additional 9,663 shares during the period. Raymond James Financial Inc. acquired a new stake in Perrigo in the 4th quarter valued at $3,177,000. Sterling Capital Management LLC grew its stake in Perrigo by 51.8% in the 4th quarter. Sterling Capital Management LLC now owns 8,144 shares of the company’s stock valued at $209,000 after acquiring an additional 2,780 shares during the period. Finally, Barclays PLC grew its stake in Perrigo by 90.0% in the 4th quarter. Barclays PLC now owns 228,908 shares of the company’s stock valued at $5,886,000 after acquiring an additional 108,406 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group lowered their price target on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Perrigo has an average rating of “Moderate Buy” and an average target price of $33.00.

Perrigo Stock Performance

Perrigo stock opened at $22.73 on Friday. The stock’s 50 day moving average price is $26.42 and its 200 day moving average price is $26.26. The firm has a market capitalization of $3.13 billion, a PE ratio of -39.19 and a beta of 0.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. Perrigo Company plc has a one year low of $21.03 and a one year high of $30.93.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.53 earnings per share. Perrigo’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s dividend payout ratio is currently -200.00%.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.