XTX Topco Ltd Makes New $1.41 Million Investment in Perrigo Company plc (NYSE:PRGO)

Key Points

• XTX Topco Ltd acquired a new stake by purchasing 50,341 shares of Perrigo Company plc, totaling approximately $1,412,000 in value during the first quarter.
• Perrigo Company plc's shares are currently rated as a Hold by analysts, with a consensus target price of $33.00.
• The company declared a quarterly dividend of $0.29 per share, which will be paid on September 16th, yielding 4.4% annually.

XTX Topco Ltd bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,341 shares of the company's stock, valued at approximately $1,412,000.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Perrigo by 6,828.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock worth $201,710,000 after purchasing an additional 7,732,309 shares during the last quarter. Norges Bank purchased a new stake in shares of Perrigo during the 4th quarter worth approximately $36,614,000. Ion Asset Management Ltd. increased its stake in shares of Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock worth $72,502,000 after purchasing an additional 941,667 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company's stock valued at $92,116,000 after buying an additional 616,387 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. grew its stake in Perrigo by 111.6% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 1,097,192 shares of the company's stock valued at $28,209,000 after buying an additional 578,597 shares in the last quarter. Institutional investors own 95.91% of the company's stock.

Perrigo Price Performance

Shares of NYSE PRGO traded down $0.08 during mid-day trading on Tuesday, reaching $26.88. 910,401 shares of the company were exchanged, compared to its average volume of 1,397,925. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.70 billion, a PE ratio of -20.52 and a beta of 0.47. The company's 50 day moving average price is $27.01 and its 200 day moving average price is $26.36.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 4.3%. Perrigo's payout ratio is currently -88.55%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.00.

About Perrigo

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.