CIBC Asset Management Inc increased its stake in shares of Perrigo Company (NYSE:PRGO) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,685 shares of the company’s stock after buying an additional 225 shares during the period. CIBC Asset Management Inc’s holdings in Perrigo were worth $731,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Perrigo by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 175,090 shares of the company’s stock worth $14,573,000 after buying an additional 11,079 shares during the period. Macquarie Group Ltd. raised its stake in Perrigo by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 103,300 shares of the company’s stock worth $8,597,000 after buying an additional 1,685 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Perrigo by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 123,597 shares of the company’s stock worth $8,205,000 after buying an additional 3,792 shares during the period. Bank of Montreal Can raised its stake in Perrigo by 10.8% in the first quarter. Bank of Montreal Can now owns 82,020 shares of the company’s stock worth $5,445,000 after buying an additional 8,012 shares during the period. Finally, Fox Run Management L.L.C. raised its stake in Perrigo by 17.2% in the first quarter. Fox Run Management L.L.C. now owns 7,500 shares of the company’s stock worth $498,000 after buying an additional 1,100 shares during the period. Institutional investors own 76.30% of the company’s stock.

Perrigo Company (NYSE PRGO) opened at 77.30 on Tuesday. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $99.14. The firm’s 50-day moving average price is $73.65 and its 200 day moving average price is $73.10. The firm’s market cap is $11.08 billion.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.37%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Analysts forecast that Perrigo Company will post $4.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. Perrigo’s payout ratio is presently -3.51%.

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PRGO has been the topic of a number of research analyst reports. Deutsche Bank AG decreased their price target on Perrigo from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. B. Riley restated a “neutral” rating and set a $67.00 price target on shares of Perrigo in a research report on Saturday, April 22nd. Royal Bank Of Canada restated a “hold” rating and set a $68.00 price target on shares of Perrigo in a research report on Wednesday, May 3rd. Canaccord Genuity set a $86.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $71.00 price target on shares of Perrigo in a research report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.31.

About Perrigo

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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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