State of Alaska Department of Revenue Boosts Stock Position in Perrigo Company plc (NYSE:PRGO)

State of Alaska Department of Revenue boosted its position in shares of Perrigo Company plc (NYSE:PRGO) by 7.3% in the third quarter, HoldingsChannel.com reports. The fund owned 15,709 shares of the company’s stock after purchasing an additional 1,075 shares during the period. State of Alaska Department of Revenue’s holdings in Perrigo were worth $412,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Perrigo by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after purchasing an additional 249,640 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after acquiring an additional 391,646 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Perrigo by 0.9% during the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock worth $89,916,000 after acquiring an additional 30,150 shares during the period. Copeland Capital Management LLC increased its position in shares of Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after acquiring an additional 465,161 shares during the period. Finally, Sound Shore Management Inc. CT raised its stake in shares of Perrigo by 5.2% in the second quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company’s stock valued at $61,402,000 after acquiring an additional 117,230 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRGO has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Perrigo currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Performance

Shares of Perrigo stock opened at $26.37 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The firm’s 50 day moving average is $26.13 and its two-hundred day moving average is $27.50. The firm has a market capitalization of $3.60 billion, a P/E ratio of -22.53 and a beta of 0.48.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s payout ratio is currently -94.02%.

Insider Buying and Selling at Perrigo

In related news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares of the company’s stock, valued at $604,258.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by company insiders.

About Perrigo

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.