Perrigo Company (PRGO) Shares Sold by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in shares of Perrigo Company (NYSE:PRGO) by 30.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,962 shares of the company’s stock after selling 8,480 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Perrigo were worth $1,605,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in PRGO. Allen Investment Management LLC grew its stake in shares of Perrigo by 7.1% in the 2nd quarter. Allen Investment Management LLC now owns 7,143 shares of the company’s stock worth $539,000 after buying an additional 473 shares during the last quarter. State Street Corp grew its stake in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after buying an additional 112,287 shares during the last quarter. Monetta Financial Services Inc. purchased a new stake in shares of Perrigo in the 2nd quarter worth approximately $755,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Perrigo by 32.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 54,530 shares of the company’s stock worth $4,118,000 after buying an additional 13,382 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Perrigo by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 662,068 shares of the company’s stock worth $50,000,000 after buying an additional 18,697 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
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Perrigo Company (NYSE PRGO) opened at $86.80 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $91.95. The firm has a market capitalization of $12,351.73, a PE ratio of 17.90, a PEG ratio of 1.89 and a beta of 0.69.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.28. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. sell-side analysts forecast that Perrigo Company will post 4.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s payout ratio is currently -6.99%.
In other news, EVP Thomas Farrington sold 865 shares of Perrigo stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total transaction of $67,816.00. Following the completion of the sale, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of Perrigo stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the sale, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The disclosure for this sale can be found here. In the last three months, insiders sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by insiders.
PRGO has been the topic of several analyst reports. BidaskClub cut Perrigo from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $88.00 price objective (up from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price objective (up from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, CIBC started coverage on Perrigo in a report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $91.50.
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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