Tidal Investments LLC Grows Position in Perrigo Company plc (NYSE:PRGO)

Tidal Investments LLC lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 29.4% in the 3rd quarter, Holdings Channel reports. The firm owned 54,830 shares of the company’s stock after acquiring an additional 12,456 shares during the period. Tidal Investments LLC’s holdings in Perrigo were worth $1,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PRGO. Wellington Management Group LLP raised its position in Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares in the last quarter. FMR LLC raised its holdings in shares of Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after buying an additional 1,837,538 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Perrigo by 83.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock worth $49,821,000 after buying an additional 881,191 shares during the last quarter. AQR Capital Management LLC boosted 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 worth $24,926,000 after buying an additional 845,470 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after acquiring an additional 465,161 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Down 3.7 %

PRGO stock opened at $25.44 on Thursday. 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 market capitalization of $3.47 billion, a price-to-earnings ratio of -21.74 and a beta of 0.52. The business’s 50 day moving average price is $26.63 and its two-hundred day moving average price is $26.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company posted $0.64 EPS. Perrigo’s revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Perrigo presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insiders Place Their Bets

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

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.