Reynders McVeigh Capital Management LLC Raises Stake in Perrigo Company plc (NYSE:PRGO)

Reynders McVeigh Capital Management LLC grew its stake in shares of Perrigo Company plc (NYSE:PRGO) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,975 shares of the company’s stock after purchasing an additional 17,268 shares during the quarter. Reynders McVeigh Capital Management LLC owned approximately 0.19% of Perrigo worth $6,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Perrigo by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after purchasing an additional 249,640 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of Perrigo by 11.2% during the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after purchasing an additional 391,646 shares during the period. Cooke & Bieler LP boosted its stake in shares of Perrigo by 0.9% during the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after purchasing an additional 30,150 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after purchasing an additional 465,161 shares during the period. Finally, Sound Shore Management Inc. CT raised its holdings in shares of Perrigo by 5.2% during the second quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company’s stock valued at $61,402,000 after acquiring an additional 117,230 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Trading Down 0.2 %

Perrigo stock opened at $28.42 on Wednesday. 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 one year low of $23.89 and a one year high of $34.60. The stock has a market capitalization of $3.88 billion, a PE ratio of -24.29 and a beta of 0.52. The business’s fifty day moving average is $26.12 and its 200 day moving average is $26.99.

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

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 3.88%. Perrigo’s payout ratio is -94.02%.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.