Virtu KCG Holdings LLC Sells 11,726 Shares of Perrigo Company (PRGO)
Virtu KCG Holdings LLC lessened its stake in Perrigo Company (NYSE:PRGO) by 59.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,053 shares of the company’s stock after selling 11,726 shares during the period. Virtu KCG Holdings LLC’s holdings in Perrigo were worth $608,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in PRGO. BlackRock Inc. boosted its position in Perrigo by 3,825.1% in the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after purchasing an additional 11,844,832 shares in the last quarter. Franklin Resources Inc. boosted its position in Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after purchasing an additional 4,383,903 shares in the last quarter. North Tide Capital LLC purchased a new stake in Perrigo in the 1st quarter worth approximately $39,834,000. State Street Corp boosted its position in Perrigo by 8.5% in the 1st quarter. State Street Corp now owns 6,644,799 shares of the company’s stock worth $441,153,000 after purchasing an additional 520,967 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Perrigo in the 2nd quarter worth approximately $27,377,000. Institutional investors and hedge funds own 82.44% of the company’s stock.
Perrigo Company (PRGO) opened at 86.82 on Friday. The stock’s market cap is $12.38 billion. Perrigo Company has a one year low of $63.68 and a one year high of $92.97. The firm has a 50-day moving average price of $82.88 and a 200-day moving average price of $74.75.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. Perrigo’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. On average, equities analysts predict that Perrigo Company will post $4.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. Perrigo’s payout ratio is -3.51%.
In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the sale, the executive vice president now directly owns 10,118 shares in the company, valued at $905,459.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sharon Kochan sold 318 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the sale, the executive vice president now owns 10,231 shares in the company, valued at $832,394.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,894 shares of company stock worth $581,320. 6.90% of the stock is owned by company insiders.
PRGO has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Perrigo in a research report on Friday, June 16th. They issued an “overweight” rating and a $85.00 price objective on the stock. BidaskClub upgraded Perrigo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Deutsche Bank AG reiterated a “buy” rating and set a $88.00 target price (up previously from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Royal Bank Of Canada set a $60.00 target price on Perrigo and gave the company a “sell” rating in a research report on Sunday, July 16th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $88.00 target price (up previously from $80.00) on shares of Perrigo in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $88.50.
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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