Perrigo Company plc (NYSE:PRGO) Stake Lowered by Sasco Capital Inc. CT

Sasco Capital Inc. CT cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 709,392 shares of the company’s stock after selling 117,870 shares during the quarter. Perrigo makes up 2.8% of Sasco Capital Inc. CT’s portfolio, making the stock its 19th largest holding. Sasco Capital Inc. CT’s holdings in Perrigo were worth $18,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC bought a new position in Perrigo in the 3rd quarter worth approximately $56,000. Beach Investment Counsel Inc. PA bought a new position in Perrigo in the 2nd quarter worth approximately $72,000. KBC Group NV grew its holdings in Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares in the last quarter. Voisard Asset Management Group Inc. boosted its stake in Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Atria Investments Inc bought a new position in Perrigo during the 3rd quarter valued at $208,000. 95.91% of the stock is owned by institutional investors.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $26.88 on Tuesday. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The stock has a fifty day moving average of $25.97 and a 200-day moving average of $27.21. The company has a market capitalization of $3.67 billion, a PE ratio of -22.97 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a $0.276 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.11%. Perrigo’s payout ratio is currently -94.02%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

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.