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

Advisors Asset Management Inc. reduced its holdings in Perrigo Company plc (NYSE:PRGO) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,017 shares of the company’s stock after selling 11,453 shares during the quarter. Advisors Asset Management Inc.’s holdings in Perrigo were worth $971,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PRGO. Diamond Hill Capital Management Inc. raised its stake in shares of Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock worth $49,821,000 after acquiring an additional 881,191 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 845,470 shares in the last quarter. Copeland Capital Management LLC raised its position in Perrigo by 23.1% in the 3rd 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 last quarter. Deprince Race & Zollo Inc. lifted its holdings in Perrigo by 11.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after buying an additional 391,646 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Perrigo by 58.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company’s stock valued at $27,271,000 after buying an additional 383,728 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction on 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 trade represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRGO shares. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Performance

Shares of NYSE:PRGO opened at $28.37 on Wednesday. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -24.22 and a beta of 0.48. The firm’s 50 day simple moving average is $25.99 and its 200 day simple moving average is $27.06. 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 fifty-two week low of $23.89 and a fifty-two week high of $34.60.

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

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders 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 dividend yield of 3.89%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio is currently -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.