Deutsche Bank AG grew its stake in Perrigo Company PLC (NYSE:PRGO) by 56.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 277,750 shares of the company’s stock after purchasing an additional 99,928 shares during the period. Deutsche Bank AG’s holdings in Perrigo were worth $10,758,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new position in shares of Perrigo in the 4th quarter valued at $26,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Perrigo by 3,574.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock valued at $37,000 after buying an additional 1,391,870 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Perrigo by 822.2% in the 4th quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock valued at $41,000 after buying an additional 962 shares in the last quarter. Covington Capital Management acquired a new position in shares of Perrigo in the 4th quarter valued at $46,000. Finally, Enlightenment Research LLC acquired a new position in shares of Perrigo in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 85.29% of the company’s stock.
PRGO has been the subject of several research analyst reports. Wells Fargo & Co set a $46.00 target price on shares of Perrigo and gave the company a “hold” rating in a report on Sunday, December 30th. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy prgo” rating in a report on Thursday, December 20th. SunTrust Banks lowered their target price on shares of Perrigo to $46.00 and set a “hold” rating for the company in a report on Thursday, April 4th. Morgan Stanley set a $67.00 target price on shares of Perrigo and gave the company a “hold” rating in a report on Sunday, December 23rd. Finally, Royal Bank of Canada set a $48.00 price target on shares of Perrigo and gave the stock a “hold” rating in a research note on Thursday, February 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Perrigo currently has a consensus rating of “Hold” and an average target price of $74.33.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.01). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a return on equity of 10.74% and a net margin of 2.77%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, research analysts expect that Perrigo Company PLC will post 4.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, February 28th. Perrigo’s dividend payout ratio (DPR) is presently 16.70%.
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Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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