Perrigo Company plc (NYSE:PRGO) Shares Acquired by LSV Asset Management

LSV Asset Management raised its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 1,332.7% during the 4th quarter, Holdings Channel reports. The fund owned 74,500 shares of the company’s stock after purchasing an additional 69,300 shares during the period. LSV Asset Management’s holdings in Perrigo were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Cooke & Bieler LP increased its holdings in shares of Perrigo by 4.1% during the fourth quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock valued at $91,879,000 after purchasing an additional 139,650 shares during the period. Sound Shore Management Inc. CT increased its stake in Perrigo by 0.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company’s stock valued at $68,614,000 after buying an additional 9,868 shares during the period. Geode Capital Management LLC raised its position in shares of Perrigo by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company’s stock worth $61,894,000 after buying an additional 106,356 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Perrigo by 8.1% in the 4th quarter. Invesco Ltd. now owns 1,565,551 shares of the company’s stock worth $40,250,000 after acquiring an additional 117,469 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of Perrigo by 44.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after acquiring an additional 472,958 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Performance

PRGO opened at $24.97 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.41 billion, a PE ratio of -21.34 and a beta of 0.49. The business has a fifty day simple moving average of $26.43 and a 200-day simple moving average of $26.06. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46.

Perrigo (NYSE:PRGO) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. As a group, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the sale, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Perrigo 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.