Quantinno Capital Management LP Buys 10,097 Shares of Perrigo Company plc (NYSE:PRGO)

Quantinno Capital Management LP boosted its stake in Perrigo Company plc (NYSE:PRGO) by 105.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,695 shares of the company’s stock after purchasing an additional 10,097 shares during the quarter. Quantinno Capital Management LP’s holdings in Perrigo were worth $517,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PRGO. Foundry Partners LLC bought a new stake in shares of Perrigo in the 3rd quarter valued at about $7,111,000. AQR Capital Management LLC boosted its position in shares of Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after purchasing an additional 845,470 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Perrigo by 94.1% in the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after buying an additional 73,457 shares during the period. FMR LLC increased its position in shares of Perrigo by 66,795.3% in the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after buying an additional 1,837,538 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Perrigo by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock worth $16,845,000 after buying an additional 23,835 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

PRGO has been the subject of a number of research analyst reports. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Performance

Shares of Perrigo stock opened at $27.45 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -23.46 and a beta of 0.52. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The stock’s 50-day moving average is $26.52 and its 200-day moving average is $26.97.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.02%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

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.