Brown Brothers Harriman & Co. Has $1.39 Million Stake in Perrigo Company plc (NYSE:PRGO)

Brown Brothers Harriman & Co. decreased its position in shares of Perrigo Company plc (NYSE:PRGO) by 44.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,283 shares of the company’s stock after selling 24,128 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Perrigo were worth $1,388,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Eaton Vance Management acquired a new position in Perrigo during the 1st quarter worth approximately $39,000. Parallel Advisors LLC lifted its holdings in shares of Perrigo by 31.4% in the second quarter. Parallel Advisors LLC now owns 882 shares of the company’s stock valued at $40,000 after purchasing an additional 211 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Perrigo in the second quarter valued at about $68,000. Captrust Financial Advisors increased its position in shares of Perrigo by 39.6% during the 1st quarter. Captrust Financial Advisors now owns 2,123 shares of the company’s stock valued at $86,000 after purchasing an additional 602 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Perrigo in the first quarter valued at $104,000. Institutional investors and hedge funds own 86.26% of the company’s stock.

PRGO stock opened at $44.86 on Thursday. The company has a market capitalization of $6.00 billion, a PE ratio of -17.46 and a beta of 1.17. The company’s 50 day moving average price is $43.74 and its two-hundred day moving average price is $44.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.67 and a current ratio of 2.23. Perrigo Company plc has a one year low of $38.20 and a one year high of $50.90.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 11th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.11). The business had revenue of $981.10 million for the quarter, compared to the consensus estimate of $1.02 billion. Perrigo had a negative net margin of 7.77% and a positive return on equity of 6.89%. During the same quarter last year, the firm posted $1.03 EPS. On average, research analysts predict that Perrigo Company plc will post 2.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 21st. Stockholders of record on Friday, September 3rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.14%. Perrigo’s payout ratio is 23.88%.

A number of brokerages recently commented on PRGO. Royal Bank of Canada dropped their price target on shares of Perrigo from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 12th. Jefferies Financial Group raised Perrigo from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $63.00 in a report on Thursday, September 30th. Finally, Raymond James raised shares of Perrigo from a “market perform” rating to an “outperform” rating and set a $59.00 price target on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $52.80.

About Perrigo

Perrigo Co Plc provides self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The company was founded by Luther Perrigo in 1887 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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