Bank of America Corp DE Acquires 318,248 Shares of Perrigo Company plc $PRGO

Key Points

• Bank of America increased its Perrigo stake by 25.5% in the first quarter, acquiring 318,248 shares and bringing its holdings to 1.57 million shares valued at approximately $16.8 million. Institutional investors collectively own 95.91% of Perrigo.
• Perrigo reported quarterly EPS of $0.50, beating the $0.39 consensus estimate, while revenue reached $1.02 billion but declined 3.1% year over year. The company provided fiscal 2026 EPS guidance of $2.25 to $2.55.
• Perrigo declared a quarterly dividend of $0.29, equivalent to $1.16 annually and an 8.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $19.33, compared with the reported share price of $13.70.

Bank of America Corp DE raised its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 25.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,568,598 shares of the company's stock after acquiring an additional 318,248 shares during the period. Bank of America Corp DE owned about 1.13% of Perrigo worth $16,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Perrigo by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,574,227 shares of the company's stock worth $244,634,000 after acquiring an additional 653,925 shares during the last quarter. Vanguard Group Inc. raised its holdings in Perrigo by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 14,983,369 shares of the company's stock worth $208,568,000 after purchasing an additional 1,101,154 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Perrigo by 291.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,824,759 shares of the company's stock worth $108,921,000 after purchasing an additional 5,828,076 shares during the period. State Street Corp increased its position in shares of Perrigo by 9.5% during the second quarter. State Street Corp now owns 7,340,323 shares of the company's stock worth $196,134,000 after buying an additional 637,678 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in Perrigo by 28.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 4,658,601 shares of the company's stock worth $64,848,000 after buying an additional 1,029,770 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Perrigo Stock Performance

Shares of PRGO stock opened at $13.70 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $11.01 and a two-hundred day simple moving average of $11.42. Perrigo Company plc has a 12 month low of $9.23 and a 12 month high of $24.60. The firm has a market capitalization of $1.90 billion, a PE ratio of -1.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The firm's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Analysts forecast that Perrigo Company plc will post 2.2 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 annualized dividend and a dividend yield of 8.5%. Perrigo's dividend payout ratio is currently -9.27%.

Analyst Ratings Changes

A number of brokerages have weighed in on PRGO. Weiss Ratings upgraded Perrigo from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded Perrigo from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Perrigo currently has a consensus rating of "Hold" and an average target price of $19.33.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo's focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo's operations span research and development, manufacturing, quality assurance and global distribution.

Want to see what other hedge funds are holding PRGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perrigo Company plc (NYSE:PRGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source