Boyar Asset Management Inc. Makes New Investment in Perrigo Company plc (NYSE:PRGO)

Boyar Asset Management Inc. bought a new position in Perrigo Company plc (NYSE:PRGO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 26,186 shares of the company's stock, valued at approximately $734,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in Perrigo by 13.8% during the 4th quarter. Handelsbanken Fonder AB now owns 42,100 shares of the company's stock valued at $1,082,000 after acquiring an additional 5,100 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Perrigo by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,028,172 shares of the company's stock worth $26,434,000 after purchasing an additional 55,155 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Perrigo by 0.8% during the fourth quarter. Amalgamated Bank now owns 64,086 shares of the company's stock valued at $1,648,000 after purchasing an additional 522 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Perrigo by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock worth $26,944,000 after purchasing an additional 13,835 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock worth $39,213,000 after buying an additional 472,958 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Up 0.2%

Shares of PRGO traded up $0.05 during midday trading on Friday, reaching $26.62. 173,276 shares of the stock were exchanged, compared to its average volume of 1,457,549. The company has a market capitalization of $3.66 billion, a P/E ratio of -20.32 and a beta of 0.46. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93. The company's 50 day moving average is $26.28 and its two-hundred day moving average is $26.03.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.36%. The ex-dividend date was Friday, May 30th. Perrigo's payout ratio is -88.55%.

Wall Street Analyst Weigh In

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

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.