Perrigo Company plc (PRGO) Shares Bought by American International Group Inc.
American International Group Inc. increased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,229 shares of the company’s stock after purchasing an additional 4,176 shares during the period. American International Group Inc.’s holdings in Perrigo were worth $4,988,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. APG Asset Management N.V. acquired a new position in shares of Perrigo during the 3rd quarter worth about $999,000. Aperio Group LLC grew its stake in Perrigo by 21.4% during the 3rd quarter. Aperio Group LLC now owns 56,200 shares of the company’s stock valued at $4,757,000 after acquiring an additional 9,895 shares in the last quarter. Korea Investment CORP grew its stake in Perrigo by 991.7% during the 3rd quarter. Korea Investment CORP now owns 14,531 shares of the company’s stock valued at $1,230,000 after acquiring an additional 13,200 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Perrigo during the 3rd quarter valued at about $605,000. Finally, Canada Pension Plan Investment Board grew its stake in Perrigo by 163.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 66,748 shares of the company’s stock valued at $5,630,000 after acquiring an additional 41,438 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
In other news, EVP John Wesolowski sold 450 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $83.09, for a total value of $37,390.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the sale, the vice president now directly owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The disclosure for this sale can be found here. In the last three months, insiders sold 3,450 shares of company stock valued at $302,951. Corporate insiders own 6.90% of the company’s stock.
Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, March 1st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. Perrigo had a net margin of 2.42% and a return on equity of 11.59%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. sell-side analysts forecast that Perrigo Company plc will post 5.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd will be paid a $0.19 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.76 annualized dividend and a dividend yield of 0.92%. Perrigo’s dividend payout ratio is 90.48%.
PRGO has been the subject of several research reports. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Friday, December 22nd. Argus raised shares of Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Friday, December 8th. Finally, Canaccord Genuity set a $100.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $92.44.
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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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