Retirement Systems of Alabama Has $5.45 Million Holdings in Perrigo Company (PRGO)
Retirement Systems of Alabama lowered its position in Perrigo Company (NYSE:PRGO) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,345 shares of the company’s stock after selling 5,170 shares during the quarter. Retirement Systems of Alabama’s holdings in Perrigo were worth $5,447,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock valued at $20,736,000 after acquiring an additional 32,828 shares during the period. Bank of Montreal Can increased its stake in shares of Perrigo by 17.4% during the second quarter. Bank of Montreal Can now owns 96,324 shares of the company’s stock valued at $7,274,000 after acquiring an additional 14,304 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Perrigo by 40.8% during the second quarter. State of Alaska Department of Revenue now owns 4,553 shares of the company’s stock valued at $343,000 after acquiring an additional 1,320 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Perrigo by 3.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 37,570 shares of the company’s stock valued at $2,837,000 after acquiring an additional 1,400 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of Perrigo by 11.3% during the second quarter. LS Investment Advisors LLC now owns 5,322 shares of the company’s stock valued at $402,000 after acquiring an additional 540 shares during the period. Institutional investors own 80.98% of the company’s stock.
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Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.28. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. sell-side analysts anticipate that Perrigo Company will post 4.88 EPS for the current year.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio is presently -6.99%.
In related news, EVP Thomas Farrington sold 616 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the completion of the sale, the executive vice president now directly owns 2,724 shares of the company’s stock, valued at $209,475.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $905,459.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,242 shares of company stock valued at $532,091. Insiders own 6.90% of the company’s stock.
A number of analysts recently weighed in on the stock. Cantor Fitzgerald set a $85.00 target price on shares of Perrigo and gave the stock a “buy” rating in a report on Monday, July 24th. BidaskClub cut shares of Perrigo from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $88.00 price objective (up previously from $80.00) on shares of Perrigo in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) raised shares of Perrigo from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Finally, Royal Bank Of Canada raised their price objective on shares of Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $91.50.
Perrigo Company Profile
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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