Perrigo Company plc $PRGO Stock: Cooke & Bieler LP Reduces Stake

Key Points

• Cooke & Bieler LP cut its Perrigo stake by 12.8% in the third quarter, selling 151,628 shares and retaining 1.04 million shares worth approximately $15.3 million. Institutional investors collectively own 95.91% of PRGO.
• Perrigo reported quarterly EPS of $0.50, exceeding the $0.39 analyst consensus, while revenue was $1.02 billion, down 3.1% year over year. The company issued fiscal 2026 EPS guidance of $2.25 to $2.55.
• The company’s quarterly dividend of $0.29 represents an annualized payout of $1.16 and a 7.3% yield at the reported share price. Analysts have a consensus “Hold” rating and an average price target of $19.33.

Cooke & Bieler LP lessened its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,037,041 shares of the company's stock after selling 151,628 shares during the quarter. Cooke & Bieler LP owned 0.75% of Perrigo worth $15,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PRGO. KBC Group NV increased its stake in Perrigo by 61.3% in the 1st quarter. KBC Group NV now owns 6,283 shares of the company's stock worth $67,000 after purchasing an additional 2,388 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Perrigo in the 2nd quarter worth about $79,000. Allworth Financial LP boosted its stake in shares of Perrigo by 489.1% during the 2nd quarter. Allworth Financial LP now owns 9,390 shares of the company's stock valued at $98,000 after purchasing an additional 7,796 shares in the last quarter. Whitebox Advisors LLC purchased a new position in shares of Perrigo during the first quarter valued at about $111,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Perrigo in the second quarter worth about $126,000. 95.91% of the stock is currently owned by institutional investors.

Perrigo Price Performance

Perrigo stock opened at $15.95 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31. Perrigo Company plc has a 52-week low of $9.23 and a 52-week high of $22.02. The firm's fifty day moving average is $14.47 and its 200 day moving average is $12.20. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -1.27, a PEG ratio of 1.85 and a beta of 0.69.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.11. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned ($0.06) earnings per share. Perrigo's revenue was down 3.1% on a year-over-year basis. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Sell-side analysts forecast that Perrigo Company plc will post 2.18 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 28th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.3%. Perrigo's dividend payout ratio is -9.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Perrigo from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Perrigo from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.33.

Perrigo Profile

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women's health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.

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