Foundry Partners LLC Purchases New Position in Perrigo Company plc (NYSE:PRGO)

Foundry Partners LLC bought a new stake in Perrigo Company plc (NYSE:PRGO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 271,090 shares of the company’s stock, valued at approximately $7,111,000. Foundry Partners LLC owned about 0.20% of Perrigo at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. increased its holdings in shares of Perrigo by 9.7% during the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares during the period. Creative Planning lifted its stake in Perrigo by 3.7% during the third quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after purchasing an additional 661 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Perrigo by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after purchasing an additional 699 shares in the last quarter. KBC Group NV raised its holdings in shares of Perrigo by 25.1% during 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Perrigo by 3.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock valued at $747,000 after buying an additional 923 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Stock Performance

Shares of Perrigo stock opened at $27.15 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The company’s fifty day moving average is $25.98 and its 200 day moving average is $27.17.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Analyst Ratings Changes

Several equities analysts recently commented on PRGO shares. 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 restated 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Activity at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 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 accessible through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. This represents a 38.74 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Perrigo 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.