Zeke Capital Advisors LLC Takes Position in Perrigo Company (PRGO)

Zeke Capital Advisors LLC bought a new stake in shares of Perrigo Company (NYSE:PRGO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,579 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after purchasing an additional 299,328 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after purchasing an additional 4,383,903 shares during the last quarter. State Street Corp raised its position in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after purchasing an additional 112,287 shares during the last quarter. Parnassus Investments CA raised its position in shares of Perrigo by 7.1% in the 3rd quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock worth $191,055,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Perrigo by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,975,965 shares of the company’s stock worth $149,224,000 after purchasing an additional 304,950 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

In other news, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the sale, the executive vice president now owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sharon Kochan sold 318 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the sale, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The disclosure for this sale can be found here. Insiders have sold a total of 4,514 shares of company stock valued at $400,009 in the last ninety days. Insiders own 6.90% of the company’s stock.

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Jefferies Group reaffirmed a “hold” rating and issued a $81.00 price target on shares of Perrigo in a research report on Friday, November 10th. Wells Fargo & Company lifted their price target on Perrigo to $90.00 and gave the stock a “market perform” rating in a research report on Friday, November 10th. Morgan Stanley lifted their price target on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Finally, Royal Bank Of Canada raised Perrigo from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $64.00 to $86.00 in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $91.50.

Shares of Perrigo Company (PRGO) traded down $0.21 during trading hours on Friday, reaching $87.00. The company’s stock had a trading volume of 834,515 shares, compared to its average volume of 1,331,345. Perrigo Company has a fifty-two week low of $63.68 and a fifty-two week high of $91.73. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12,253.17, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Perrigo’s revenue was down 2.0% on a year-over-year basis. sell-side analysts anticipate that Perrigo Company will post 4.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is -6.99%.

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Perrigo 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.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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