54,428 Shares in Perrigo Company plc (NYSE:PRGO) Acquired by Beach Investment Counsel Inc. PA

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

A number of other institutional investors have also added to or reduced their stakes in PRGO. Barclays PLC boosted its holdings in shares of Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after purchasing an additional 37,268 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Perrigo in the fourth quarter worth about $149,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Perrigo by 5.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,092,398 shares of the company's stock worth $28,402,000 after purchasing an additional 52,696 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Perrigo by 0.4% in the fourth quarter. Rhumbline Advisers now owns 370,085 shares of the company's stock worth $9,515,000 after buying an additional 1,549 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Perrigo by 13.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 77,062 shares of the company's stock valued at $1,981,000 after buying an additional 9,178 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Price Performance

PRGO stock opened at $26.18 on Friday. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93. The firm has a market capitalization of $3.60 billion, a P/E ratio of -22.38 and a beta of 0.45. The company has a fifty day simple moving average of $25.96 and a two-hundred day simple moving average of $26.17. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the company earned $0.29 EPS. The business's revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, May 30th. Perrigo's dividend payout ratio (DPR) is -88.55%.

Insider Transactions at Perrigo

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $33.00.

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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