Advisors Asset Management Inc. Has $971,000 Position in Perrigo Company plc (NYSE:PRGO)

Advisors Asset Management Inc. trimmed its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 23.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,017 shares of the company’s stock after selling 11,453 shares during the period. Advisors Asset Management Inc.’s holdings in Perrigo were worth $971,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Voisard Asset Management Group Inc. increased its stake in shares of Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares during the last quarter. Creative Planning grew its holdings in Perrigo by 3.7% during the third quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after purchasing an additional 661 shares during the period. Arizona State Retirement System increased its position in Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after buying an additional 699 shares during the last quarter. KBC Group NV raised its stake in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after buying an additional 905 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Perrigo by 3.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock valued at $747,000 after buying an additional 923 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 0.1 %

PRGO stock opened at $28.37 on Wednesday. Perrigo Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -24.22 and a beta of 0.48. The business’s fifty day moving average price is $25.99 and its two-hundred day moving average price is $27.06.

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

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio is currently -94.02%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRGO. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insiders Place Their Bets

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

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.