Advisors Asset Management Inc. Sells 44 Shares of Perrigo Co. (PRGO)
Advisors Asset Management Inc. decreased its position in Perrigo Co. (NYSE:PRGO) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,284 shares of the company’s stock after selling 44 shares during the period. Advisors Asset Management Inc.’s holdings in Perrigo were worth $116,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of PRGO. Notis McConarty Edward raised its position in shares of Perrigo by 61.8% in the second quarter. Notis McConarty Edward now owns 5,225 shares of the company’s stock worth $473,000 after buying an additional 1,995 shares in the last quarter. Fayerweather Charles raised its position in shares of Perrigo by 16.9% in the second quarter. Fayerweather Charles now owns 3,659 shares of the company’s stock worth $332,000 after buying an additional 529 shares in the last quarter. Dempze Nancy E raised its position in shares of Perrigo by 12.9% in the second quarter. Dempze Nancy E now owns 5,205 shares of the company’s stock worth $473,000 after buying an additional 595 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Perrigo during the second quarter worth $3,788,000. Finally, Honeywell International Inc. acquired a new position in shares of Perrigo during the second quarter worth $14,870,000. 71.11% of the stock is currently owned by institutional investors and hedge funds.
Perrigo Co. (NYSE:PRGO) traded down 4.10% on Friday, hitting $90.95. The stock had a trading volume of 2,907,127 shares. The stock’s 50-day moving average is $92.69 and its 200 day moving average is $99.32. The firm’s market capitalization is $13.03 billion. Perrigo Co. has a 1-year low of $82.50 and a 1-year high of $167.92.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data 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. Perrigo had a positive return on equity of 10.19% and a negative net margin of 2.39%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Perrigo Co. will post $7.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Friday, August 26th were paid 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 yield of 0.64%. Perrigo’s payout ratio is currently -60.42%.
Several equities analysts have recently commented on the company. Bank of America Corp. reiterated a “sell” rating and set a $109.00 price objective on shares of Perrigo in a research report on Wednesday, June 15th. BTIG Research reiterated a “neutral” rating on shares of Perrigo in a research report on Friday, June 17th. Raymond James Financial Inc. reiterated a “hold” rating on shares of Perrigo in a research report on Wednesday, June 15th. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, Vetr lowered Perrigo from a “buy” rating to a “hold” rating and set a $98.60 price objective on the stock. in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Perrigo currently has a consensus rating of “Hold” and a consensus target price of $113.37.
In other news, Director Herman Morris, Jr. sold 1,073 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total transaction of $97,600.08. Following the transaction, the director now owns 10,425 shares of the company’s stock, valued at $948,258. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Judy L. Brown sold 2,096 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $96.76, for a total value of $202,808.96. Following the transaction, the chief financial officer now directly owns 14,196 shares in the company, valued at approximately $1,373,604.96. The disclosure for this sale can be found here. Company insiders own 4.47% of the company’s stock.
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