ArrowMark Colorado Holdings LLC Grows Holdings in Perrigo Company plc (NYSE:PRGO)

ArrowMark Colorado Holdings LLC lifted its position in shares of Perrigo Company plc (NYSE:PRGO) by 4.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 588,855 shares of the company’s stock after buying an additional 25,000 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Perrigo were worth $15,446,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Foundry Partners LLC acquired a new stake in Perrigo in the 3rd quarter worth about $7,111,000. AQR Capital Management LLC lifted its holdings in shares of Perrigo by 675.5% during the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after acquiring an additional 845,470 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Perrigo by 3.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock valued at $16,845,000 after purchasing an additional 23,835 shares during the period. Victory Capital Management Inc. increased its position in Perrigo by 23.2% during the second quarter. Victory Capital Management Inc. now owns 1,405,553 shares of the company’s stock worth $36,095,000 after purchasing an additional 264,647 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. raised its stake in Perrigo by 36.8% during the third quarter. O Keefe Stevens Advisory Inc. now owns 182,516 shares of the company’s stock worth $4,787,000 after purchasing an additional 49,075 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Perrigo Stock Performance

Shares of PRGO stock opened at $28.50 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company’s fifty day simple moving average is $26.06 and its 200-day simple moving average is $27.01. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio is presently -94.02%.

About Perrigo

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.