By otakuyassine3@gmail.com 
Geode Capital Management LLC lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO – Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,343,862 shares of the company’s stock after selling 15,210 shares during the period. Geode Capital Management LLC’s holdings in Perrigo were worth $60,280,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. bought a new position in Perrigo during the 3rd quarter valued at approximately $3,717,000. Barclays PLC increased its holdings in shares of Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after acquiring an additional 37,268 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Perrigo by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after purchasing an additional 213,221 shares during the last quarter. Virtu Financial LLC purchased a new stake in Perrigo during the 3rd quarter valued at about $909,000. Finally, Access Investment Management LLC bought a new stake in Perrigo during the 4th quarter valued at about $7,989,000. 95.91% of the stock is owned by hedge funds and other institutional investors.
Perrigo Trading Up 1.0 %
Shares of NYSE:PRGO opened at $24.59 on Friday. The stock’s 50-day simple moving average is $26.43 and its two-hundred day simple moving average is $26.06. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -21.02 and a beta of 0.49. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.
Perrigo (NYSE:PRGO – Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.
Perrigo Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.72%. Perrigo’s payout ratio is -92.80%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PRGO. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.
Get Our Latest Report on Perrigo
Insider Buying and Selling at Perrigo
In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
Perrigo Company 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.
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