Victory Capital Management Inc. Raises Stake in Perrigo Company plc (NYSE:PRGO)

Victory Capital Management Inc. increased its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,457,465 shares of the company's stock after buying an additional 44,127 shares during the period. Victory Capital Management Inc. owned about 1.07% of Perrigo worth $40,867,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PRGO. Headlands Technologies LLC raised its holdings in Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after purchasing an additional 1,340 shares during the last quarter. Parallel Advisors LLC raised its holdings in Perrigo by 176.9% during the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after purchasing an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Perrigo by 138.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares during the last quarter. Fifth Third Bancorp raised its holdings in Perrigo by 62.0% during the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after purchasing an additional 849 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Perrigo by 110.4% during the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after purchasing an additional 1,374 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Stock Up 2.3%

Shares of Perrigo stock traded up $0.62 during trading hours on Tuesday, reaching $27.56. The company's stock had a trading volume of 278,879 shares, compared to its average volume of 1,416,349. 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 $3.79 billion, a P/E ratio of -21.03 and a beta of 0.45. The stock's fifty day simple moving average is $26.82 and its two-hundred day simple moving average is $26.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.36.

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, beating analysts' consensus estimates of $0.56 by $0.04. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $0.29 earnings per share. The business's quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.21%. Perrigo's payout ratio is -88.55%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.