Dividend Asset Capital LLC Increased Perrigo Co Plc (NYSE:PRGO) by $25.91 Million as Shares Declined


Dividend Asset Capital Llc increased its stake in Perrigo Co Plc (NYSE:PRGO) by 28.96% based on its latest 2016Q2 regulatory filing with the SEC. Dividend Asset Capital Llc bought 204,034 shares as the company’s stock declined 10.22% while stock markets rallied. The institutional investor held 908,645 shares of the major pharmaceuticals company at the end of 2016Q2, valued at $116.24 million, up from 704,611 at the end of the previous reported quarter. Dividend Asset Capital Llc who had been investing in Perrigo Co Plc for a number of months, seems to be bullish on the $13.64 billion market cap company. The stock decreased 1.73% or $1.65 during the last trading session, hitting $93.58. About 2.03 million shares traded hands. Perrigo Company plc Ordinary Shares (NYSE:PRGO) has declined 30.90% since February 8, 2016 and is downtrending. It has underperformed by 47.39% the S&P500.

Dividend Asset Capital Llc, which manages about $3.50B and $3.48B US Long portfolio, decreased its stake in Plains All Amern Pipeline L (NYSE:PAA) by 1.63M shares to 421,145 shares, valued at $8.83 million in 2016Q2, according to the filing. It also reduced its holding in Lowes Cos Inc (NYSE:LOW) by 103,790 shares in the quarter, leaving it with 1.82 million shares, and cut its stake in V F Corp (NYSE:VFC).

Dividend Asset Capital Llc is a South Carolina-based institutional investor with more than $3.50 billion AUM in October, 2014. Taken from Dividend Asset Capital latest Adv, the fund reported to have 20 full and part-time employees. Among which 11 performing investment advisory and research functions. The institutional investor had more than 700 clients.

The institutional sentiment decreased to 0.81 in 2016 Q2. Its down 0.38, from 1.19 in 2016Q1. The ratio dropped, as 103 funds sold all PRGO shares owned while 175 reduced positions. 80 funds bought stakes while 146 increased positions. They now own 96.70 million shares or 9.76% less from 107.16 million shares in 2016Q1.

Menora Mivtachim Holdings Ltd. holds 3.89% of its portfolio in PRGO for 758,693 shares. Cortland Associates Inc Mo owns 153,996 shares or 3.06% of their US portfolio. Moreover, Parnassus Investments Ca has 3.03% invested in the company for 5.50 million shares. The Minnesota-based Cornerstone Capital Management Llc has invested 2.62% in the stock. Sarissa Capital Management Lp, a Connecticut-based fund reported 100,000 shares.

Out of 14 analysts covering Perrigo Company Plc (NYSE:PRGO), 4 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 29% are positive. Perrigo Company Plc has been the topic of 33 analyst reports since October 23, 2015 according to StockzIntelligence Inc. JP Morgan maintained the stock on August 11 with “Neutral” rating.

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