Retirement Systems of Alabama Sells 2,540 Shares of Perrigo Company plc (NYSE:PRGO)

Retirement Systems of Alabama lessened its position in Perrigo Company plc (NYSE:PRGO) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,711 shares of the company’s stock after selling 2,540 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Perrigo worth $4,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Perrigo by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after acquiring an additional 249,640 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Perrigo by 11.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after purchasing an additional 391,646 shares during the period. Cooke & Bieler LP grew its position in Perrigo by 0.9% in the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock worth $89,916,000 after purchasing an additional 30,150 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Perrigo by 229.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock worth $70,761,000 after purchasing an additional 1,878,145 shares during the period. Finally, Copeland Capital Management LLC raised its position in shares of Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after buying an additional 465,161 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Trading Up 1.1 %

PRGO stock opened at $25.73 on Friday. The business’s 50 day moving average is $26.66 and its 200-day moving average is $26.93. 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 firm has a market cap of $3.51 billion, a P/E ratio of -21.99 and a beta of 0.52. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting 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 last year, the business earned $0.64 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, November 29th. Perrigo’s payout ratio is -94.02%.

Wall Street Analyst Weigh In

PRGO has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Perrigo presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Activity

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

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.