Perrigo Company plc (NYSE:PRGO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 28.3% during the third quarter, Holdings Channel reports. The firm owned 1,034,170 shares of the company’s stock after selling 407,278 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Perrigo were worth $27,126,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. lifted its stake in Perrigo by 9.7% during the third 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 in the last quarter. Creative Planning lifted its stake 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 in the last quarter. Arizona State Retirement System lifted its stake 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 purchasing an additional 699 shares in the last quarter. KBC Group NV lifted its stake in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Perrigo by 3.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock worth $747,000 after purchasing an additional 923 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Perrigo Stock Performance

NYSE:PRGO opened at $28.91 on Thursday. The firm has a market capitalization of $3.94 billion, a PE ratio of -24.71 and a beta of 0.52. The business’s fifty day moving average price is $26.12 and its 200 day moving average price is $26.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting 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 positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

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.