Stifel Financial Corp Has $3.50 Million Stake in Perrigo Company plc (NYSE:PRGO)

Stifel Financial Corp lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 11.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 133,278 shares of the company’s stock after acquiring an additional 13,249 shares during the period. Stifel Financial Corp owned 0.10% of Perrigo worth $3,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock valued at $49,821,000 after acquiring an additional 881,191 shares during the period. AQR Capital Management LLC grew its stake in Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock valued at $24,926,000 after acquiring an additional 845,470 shares during the period. Copeland Capital Management LLC raised 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 purchasing an additional 465,161 shares during the period. Finally, Deprince Race & Zollo Inc. grew its position in Perrigo by 11.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after purchasing an additional 391,646 shares during the period. 95.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now directly owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

Shares of PRGO stock opened at $26.69 on Tuesday. Perrigo Company plc has a one year low of $23.89 and a one year 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 firm has a 50-day moving average of $26.57 and a 200-day moving average of $26.96. The company has a market cap of $3.64 billion, a P/E ratio of -22.81 and a beta of 0.52.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.64 earnings per share. Perrigo’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.14%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Perrigo Profile

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.