North Star Asset Management Inc. Maintains Position in Perrigo Co. (PRGO)
North Star Asset Management Inc. maintained its position in Perrigo Co. (NYSE:PRGO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,144 shares of the company’s stock at the end of the second quarter. Perrigo comprises 1.1% of North Star Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. North Star Asset Management Inc.’s holdings in Perrigo were worth $9,230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Balentine LLC raised its stake in shares of Perrigo by 28.3% in the first quarter. Balentine LLC now owns 1,044 shares of the company’s stock valued at $134,000 after buying an additional 230 shares during the period. Hall Laurie J Trustee raised its stake in shares of Perrigo by 49.1% in the second quarter. Hall Laurie J Trustee now owns 1,670 shares of the company’s stock valued at $156,000 after buying an additional 550 shares during the period. MU Investments Co. Ltd. bought a new stake in shares of Perrigo during the second quarter valued at about $176,000. Gardiner Nancy B bought a new stake in shares of Perrigo during the first quarter valued at about $207,000. Finally, IFP Advisors Inc raised its stake in shares of Perrigo by 1.5% in the first quarter. IFP Advisors Inc now owns 1,817 shares of the company’s stock valued at $232,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.
Shares of Perrigo Co. (NYSE:PRGO) traded down 4.10% during midday trading on Friday, reaching $90.95. The company’s stock had a trading volume of 2,883,029 shares. Perrigo Co. has a 1-year low of $82.50 and a 1-year high of $167.92. The firm’s market capitalization is $13.03 billion. The company’s 50-day moving average price is $92.69 and its 200 day moving average price is $99.61.
Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $1.98 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 earnings per share. On average, equities research analysts forecast that Perrigo Co. will post $7.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were issued a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.58 annualized dividend and a dividend yield of 0.61%. Perrigo’s payout ratio is currently -60.42%.
Several analysts recently issued reports on PRGO shares. Vetr lowered shares of Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 price objective on the stock. in a report on Monday, July 25th. Deutsche Bank AG upgraded shares of Perrigo from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Friday, July 22nd. Zacks Investment Research upgraded shares of Perrigo from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Wednesday, July 20th. Guggenheim restated a “buy” rating and issued a $125.00 price objective on shares of Perrigo in a report on Monday, August 22nd. Finally, Raymond James Financial Inc. reaffirmed a “hold” rating on shares of Perrigo in a research report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $113.37.
In related news, Director Herman Morris, Jr. sold 1,073 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $90.96, for a total transaction of $97,600.08. Following the sale, the director now directly owns 10,425 shares in the company, valued at approximately $948,258. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Judy L. Brown sold 2,095 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $88.28, for a total value of $184,946.60. Following the sale, the executive vice president now owns 16,292 shares in the company, valued at $1,438,257.76. The disclosure for this sale can be found here. Corporate insiders own 4.47% of the company’s stock.
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