Perrigo Co. (PRGO) Position Reduced by Gargoyle Investment Advisor L.L.C.
Gargoyle Investment Advisor L.L.C. lowered its position in shares of Perrigo Co. (NYSE:PRGO) by 41.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,166 shares of the company’s stock after selling 3,727 shares during the period. Gargoyle Investment Advisor L.L.C.’s holdings in Perrigo were worth $469,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in PRGO. Scopia Capital Management LP purchased a new stake in Perrigo during the first quarter worth $33,615,000. Aperio Group LLC increased its stake in Perrigo by 49.5% in the first quarter. Aperio Group LLC now owns 26,238 shares of the company’s stock worth $3,357,000 after buying an additional 8,685 shares in the last quarter. Aviva PLC increased its stake in shares of Perrigo by 1.2% in the first quarter. Aviva PLC now owns 75,927 shares of the company’s stock valued at $9,713,000 after buying an additional 918 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Perrigo by 13.2% in the first quarter. UBS Asset Management Americas Inc. now owns 1,109,594 shares of the company’s stock valued at $141,949,000 after buying an additional 129,485 shares during the period. Finally, AMP Capital Investors Ltd increased its stake in shares of Perrigo by 122.7% in the first quarter. AMP Capital Investors Ltd now owns 85,283 shares of the company’s stock valued at $11,055,000 after buying an additional 46,995 shares during the period. 71.11% of the stock is owned by institutional investors and hedge funds.
Shares of Perrigo Co. (NYSE:PRGO) traded down 1.95% during midday trading on Thursday, reaching $94.84. The company had a trading volume of 1,364,942 shares. Perrigo Co. has a 1-year low of $82.50 and a 1-year high of $167.92. The company’s 50-day moving average is $92.69 and its 200-day moving average is $99.61. The stock’s market capitalization is $13.59 billion.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. Perrigo’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. On average, equities research analysts forecast that Perrigo Co. will post $7.00 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were paid a $0.145 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.58 annualized dividend and a yield of 0.61%. Perrigo’s payout ratio is -60.42%.
Several analysts have recently commented on the stock. B. Riley reaffirmed a “neutral” rating and set a $101.00 price objective on shares of Perrigo in a research report on Tuesday, June 28th. BTIG Research reaffirmed a “neutral” rating on shares of Perrigo in a research report on Friday, June 17th. Barclays PLC reduced their price objective on shares of Perrigo from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, August 11th. Jefferies Group reduced their price objective on shares of Perrigo from $97.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $105.00 price objective (down previously from $115.00) on shares of Perrigo in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. Perrigo currently has an average rating of “Hold” and a consensus target price of $113.37.
In other news, Director Gary K. Kunkle, Jr. sold 5,814 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $89.95, for a total value of $522,969.30. Following the sale, the director now directly owns 31,501 shares of the company’s stock, valued at $2,833,514.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Judy L. Brown sold 2,096 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $96.76, for a total value of $202,808.96. Following the completion of the sale, the chief financial officer now directly owns 14,196 shares in the company, valued at $1,373,604.96. The disclosure for this sale can be found here. 4.47% of the stock is owned by corporate insiders.
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