Ceredex Value Advisors LLC Invests $81.79 Million in Perrigo (PRGO) Stock

Ceredex Value Advisors LLC purchased a new position in Perrigo (NYSE:PRGO) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 981,350 shares of the company’s stock, valued at approximately $81,786,000. Perrigo makes up 1.0% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Ceredex Value Advisors LLC owned approximately 0.70% of Perrigo as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Twin Tree Management LP boosted its position in Perrigo by 271.0% during the 1st quarter. Twin Tree Management LP now owns 2,223 shares of the company’s stock worth $185,000 after acquiring an additional 3,523 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Perrigo by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 549,100 shares of the company’s stock worth $45,762,000 after acquiring an additional 42,845 shares during the period. Goodman Financial Corp boosted its position in Perrigo by 4.9% during the 1st quarter. Goodman Financial Corp now owns 63,436 shares of the company’s stock worth $5,287,000 after acquiring an additional 2,971 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Perrigo by 31.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 69,139 shares of the company’s stock worth $5,762,000 after acquiring an additional 16,406 shares during the period. Finally, Prudential Financial Inc. boosted its position in Perrigo by 70.1% during the 1st quarter. Prudential Financial Inc. now owns 303,556 shares of the company’s stock worth $25,298,000 after acquiring an additional 125,150 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

PRGO opened at $75.86 on Friday. Perrigo has a twelve month low of $75.66 and a twelve month high of $76.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.08 and a quick ratio of 1.48. The company has a market capitalization of $10.46 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.77 and a beta of 0.77.

Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company earned $1.05 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. equities analysts expect that Perrigo will post 5.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Friday, June 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.76 annualized dividend and a yield of 1.00%. Perrigo’s dividend payout ratio (DPR) is currently 15.42%.

PRGO has been the subject of a number of research reports. JPMorgan Chase restated a “neutral” rating and set a $83.00 price objective (up from $82.00) on shares of Perrigo in a research report on Monday, March 5th. Oppenheimer reiterated a “buy” rating and set a $98.00 price target on shares of Perrigo in a report on Tuesday, February 27th. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a report on Friday, January 19th. Canaccord Genuity set a $105.00 price target on Perrigo and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Berenberg Bank initiated coverage on Perrigo in a report on Thursday, February 1st. They set a “buy” rating and a $117.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $93.06.

In other Perrigo news, CEO Uwe Roehrhoff purchased 7,500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were bought at an average cost of $81.85 per share, with a total value of $613,875.00. Following the transaction, the chief executive officer now directly owns 4,900 shares in the company, valued at approximately $401,065. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey C. Smith purchased 50,000 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was acquired at an average cost of $75.89 per share, for a total transaction of $3,794,500.00. Following the completion of the transaction, the director now owns 528 shares in the company, valued at $40,069.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 307,500 shares of company stock valued at $23,210,875. Corporate insiders own 6.90% of the company’s stock.

Perrigo Profile

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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