Beach Investment Counsel Inc. PA Buys Shares of 54,428 Perrigo Company plc (NYSE:PRGO)

Beach Investment Counsel Inc. PA purchased a new position in Perrigo Company plc (NYSE:PRGO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 54,428 shares of the company's stock, valued at approximately $1,526,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD boosted its position in shares of Perrigo by 6,828.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock valued at $201,710,000 after acquiring an additional 7,732,309 shares during the period. Norges Bank bought a new stake in Perrigo during the fourth quarter worth about $36,614,000. Ion Asset Management Ltd. lifted its position in Perrigo by 50.1% in the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock worth $72,502,000 after buying an additional 941,667 shares during the last quarter. BW Gestao de Investimentos Ltda. grew its position in Perrigo by 111.6% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 1,097,192 shares of the company's stock valued at $28,209,000 after acquiring an additional 578,597 shares during the last quarter. Finally, Boone Capital Management LLC raised its stake in shares of Perrigo by 126.1% during the fourth quarter. Boone Capital Management LLC now owns 1,022,369 shares of the company's stock worth $26,285,000 after acquiring an additional 570,148 shares in the last quarter. 95.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.

Perrigo Stock Down 0.7%

Shares of PRGO traded down $0.19 on Wednesday, hitting $27.41. 1,063,171 shares of the stock traded hands, compared to its average volume of 1,548,975. Perrigo Company plc has a one year low of $23.14 and a one year high of $30.93. The company has a market capitalization of $3.77 billion, a PE ratio of -23.43 and a beta of 0.46. The business has a 50 day simple moving average of $25.94 and a 200 day simple moving average of $26.16. 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 posted its earnings results on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. As a group, equities analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.23%. Perrigo's payout ratio is -88.55%.

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.