Foundry Partners LLC Buys New Position in Perrigo Company plc (NYSE:PRGO)

Foundry Partners LLC purchased a new stake in Perrigo Company plc (NYSE:PRGO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 271,090 shares of the company’s stock, valued at approximately $7,111,000.

Other large investors have also bought and sold shares of the company. Diamond Hill Capital Management Inc. boosted its stake in shares of Perrigo by 83.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock worth $49,821,000 after buying an additional 881,191 shares during the last quarter. AQR Capital Management LLC boosted its position in Perrigo by 675.5% in 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 during the last quarter. National Bank of Canada FI bought a new position in Perrigo in the 1st quarter valued at $19,040,000. Copeland Capital Management LLC raised its stake in shares of Perrigo by 23.1% during the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after purchasing an additional 465,161 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Perrigo by 11.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after buying an additional 391,646 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Katherine C. Doyle sold 8,954 shares of the company’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 completion of the transaction, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. This trade represents a 38.74 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on PRGO. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Performance

Shares of PRGO stock opened at $27.15 on Thursday. The company’s fifty day simple moving average is $25.98 and its two-hundred day simple moving average is $27.17. Perrigo Company plc has a 1 year low of $23.89 and a 1 year high of $34.60. 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 (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s quarterly 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. As a group, equities research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s payout ratio is -94.02%.

About Perrigo

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.