Perrigo Company plc (NYSE:PRGO) Position Boosted by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Perrigo Company plc (NYSE:PRGO) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 290,710 shares of the company’s stock after purchasing an additional 3,255 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Perrigo were worth $7,474,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRGO. Sound Shore Management Inc. CT raised its stake in Perrigo by 0.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company’s stock worth $68,614,000 after acquiring an additional 9,868 shares during the period. Cedar Wealth Management LLC lifted its stake in Perrigo by 2.1% in the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after buying an additional 450 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Perrigo by 34.4% during the fourth quarter. LPL Financial LLC now owns 37,738 shares of the company’s stock valued at $970,000 after acquiring an additional 9,663 shares during the period. Fox Run Management L.L.C. grew its position in shares of Perrigo by 5.1% during the fourth quarter. Fox Run Management L.L.C. now owns 11,381 shares of the company’s stock worth $293,000 after acquiring an additional 548 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Perrigo in the 4th quarter worth about $710,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent analyst reports. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Perrigo currently has an average rating of “Hold” and a consensus target price of $33.00.

Insider Transactions at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Down 0.7 %

PRGO opened at $27.73 on Tuesday. The stock’s fifty day moving average is $25.80 and its 200-day moving average is $26.14. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46. The company has a market capitalization of $3.78 billion, a PE ratio of -23.70 and a beta of 0.48. 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) last issued its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.18%. Perrigo’s dividend payout ratio is currently -92.80%.

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.