BB&T Corp Has $280,000 Position in Perrigo Company (PRGO)
BB&T Corp lowered its stake in shares of Perrigo Company (NYSE:PRGO) by 32.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the company’s stock after selling 1,573 shares during the quarter. BB&T Corp’s holdings in Perrigo were worth $280,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PRGO. OppenheimerFunds Inc. grew its position in Perrigo by 28.9% during the first quarter. OppenheimerFunds Inc. now owns 10,003 shares of the company’s stock worth $664,000 after buying an additional 2,244 shares in the last quarter. Teachers Advisors LLC grew its position in Perrigo by 5.5% during the first quarter. Teachers Advisors LLC now owns 184,705 shares of the company’s stock worth $12,263,000 after buying an additional 9,615 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Perrigo by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock worth $20,736,000 after buying an additional 32,828 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Perrigo during the first quarter worth approximately $793,000. Finally, Credit Suisse AG grew its position in Perrigo by 13.8% during the first quarter. Credit Suisse AG now owns 241,688 shares of the company’s stock worth $16,046,000 after buying an additional 29,375 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.
In other Perrigo news, EVP Sharon Kochan sold 318 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the sale, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at $832,394.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total transaction of $47,370.40. Following the completion of the sale, the executive vice president now directly owns 2,724 shares of the company’s stock, valued at $209,475.60. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock valued at $581,320 over the last three months. 6.90% of the stock is currently owned by insiders.
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Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.79%. Perrigo’s dividend payout ratio is presently -3.51%.
A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada set a $60.00 price target on Perrigo and gave the stock a “sell” rating in a research report on Sunday, July 16th. Jefferies Group LLC restated a “hold” rating and set a $71.00 target price (up from $69.00) on shares of Perrigo in a research note on Friday, August 11th. Wells Fargo & Company restated a “market perform” rating and set a $77.00 target price on shares of Perrigo in a research note on Tuesday, August 15th. Oppenheimer Holdings, Inc. started coverage on Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 target price for the company. Finally, BidaskClub upgraded Perrigo from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $88.50.
Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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