Sasco Capital Inc. CT Trims Stake in Perrigo Company plc (NYSE:PRGO)

Sasco Capital Inc. CT trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 14.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 709,392 shares of the company’s stock after selling 117,870 shares during the quarter. Perrigo makes up approximately 2.8% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 19th largest position. Sasco Capital Inc. CT owned about 0.52% of Perrigo worth $18,607,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PRGO. US Bancorp DE grew its holdings in shares of Perrigo by 14.3% during the 1st quarter. US Bancorp DE now owns 16,636 shares of the company’s stock worth $536,000 after purchasing an additional 2,085 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Perrigo by 2.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 141,588 shares of the company’s stock worth $4,558,000 after purchasing an additional 3,218 shares during the period. Bessemer Group Inc. grew its holdings in shares of Perrigo by 8.1% during the 1st quarter. Bessemer Group Inc. now owns 22,962 shares of the company’s stock worth $740,000 after purchasing an additional 1,717 shares during the period. National Bank of Canada FI acquired a new position in Perrigo during the 1st quarter worth about $19,040,000. Finally, Brant Point Investment Management LLC acquired a new position in Perrigo during the 1st quarter worth about $336,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perrigo

In related news, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. The trade was a 38.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PRGO shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Trading Up 0.3 %

Shares of PRGO stock opened at $26.88 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $25.97 and its two-hundred day moving average is $27.21. The company has a market capitalization of $3.67 billion, a P/E ratio of -22.97 and a beta of 0.48. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60.

Perrigo (NYSE:PRGO) last released 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 positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders 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 yield of 4.11%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Perrigo Company 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.