Chevy Chase Trust Holdings Inc. Cuts Position in Perrigo Co. (PRGO)
Chevy Chase Trust Holdings Inc. cut its position in shares of Perrigo Co. (NYSE:PRGO) by 13.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 119,563 shares of the company’s stock after selling 19,243 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.08% of Perrigo worth $11,040,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its stake in shares of Perrigo by 2,279.9% in the second quarter. Macquarie Group Ltd. now owns 84,224 shares of the company’s stock worth $7,637,000 after buying an additional 80,685 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Perrigo during the second quarter valued at $524,000. Kentucky Retirement Systems bought a new stake in shares of Perrigo during the second quarter valued at $1,104,000. Mason Street Advisors LLC bought a new stake in shares of Perrigo during the second quarter valued at $1,749,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Perrigo by 23.8% in the second quarter. Sterling Capital Management LLC now owns 607,147 shares of the company’s stock valued at $55,050,000 after buying an additional 116,815 shares in the last quarter. Institutional investors and hedge funds own 65.78% of the company’s stock.
Perrigo Co. (NYSE:PRGO) traded down 1.67% during midday trading on Friday, hitting $87.84. The stock had a trading volume of 467,754 shares. The company’s 50 day moving average price is $87.54 and its 200-day moving average price is $91.85. The stock’s market cap is $12.59 billion. Perrigo Co. has a 52-week low of $79.72 and a 52-week high of $152.36.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, November 10th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.07. Perrigo had a positive return on equity of 10.78% and a negative net margin of 26.62%. The company earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business earned $1.76 EPS. Perrigo’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Perrigo Co. will post $6.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Friday, November 25th will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, November 22nd. Perrigo’s payout ratio is currently -5.53%.
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Several brokerages have recently commented on PRGO. Vetr lowered Perrigo from a “buy” rating to a “hold” rating and set a $98.60 price objective for the company. in a report on Tuesday, August 9th. Northland Securities lowered Perrigo from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $123.00 to $94.00 in a report on Thursday, August 11th. JPMorgan Chase & Co. set a $90.00 price objective on Perrigo and gave the stock a “hold” rating in a report on Thursday, August 11th. Barclays PLC cut their price objective on Perrigo from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, August 11th. Finally, Leerink Swann set a $81.00 price objective on Perrigo and gave the stock a “hold” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $109.45.
In other news, EVP Thomas Farrington sold 1,110 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $96.76, for a total value of $107,403.60. Following the completion of the transaction, the executive vice president now directly owns 2,970 shares of the company’s stock, valued at approximately $287,377.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Geoffrey M. Parker purchased 2,500 shares of Perrigo stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $88.75 per share, with a total value of $221,875.00. The disclosure for this purchase can be found here. Corporate insiders own 4.47% of the company’s stock.
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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