Strs Ohio Buys New Shares in Perrigo Company plc (NYSE:PRGO)

Strs Ohio bought a new stake in Perrigo Company plc (NYSE:PRGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,893 shares of the company's stock, valued at approximately $1,573,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. lifted its holdings in shares of Perrigo by 132.3% during the third quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company's stock worth $39,000 after purchasing an additional 659 shares during the period. Blue Trust Inc. lifted its holdings in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company's stock worth $50,000 after purchasing an additional 399 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Perrigo by 39.5% during the third quarter. Fifth Third Bancorp now owns 1,714 shares of the company's stock worth $55,000 after purchasing an additional 485 shares during the period. TFC Financial Management Inc. acquired a new position in shares of Perrigo during the third quarter worth $78,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Perrigo during the third quarter worth $97,000. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Trading Down 2.4 %

PRGO stock traded down $0.74 during midday trading on Monday, hitting $30.06. The stock had a trading volume of 1,415,775 shares, compared to its average volume of 1,853,700. The firm has a market cap of $4.07 billion, a P/E ratio of -300.60 and a beta of 0.64. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Perrigo Company plc has a 1-year low of $25.77 and a 1-year high of $40.28. The business has a fifty day moving average price of $30.58 and a two-hundred day moving average price of $30.78.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business's revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Perrigo Company plc will post 2.55 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a $0.276 dividend. This is an increase from Perrigo's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 3.67%. The ex-dividend date was Thursday, March 7th. Perrigo's payout ratio is -1,100.00%.

Wall Street Analysts Forecast Growth

PRGO has been the topic of a number of recent research reports. StockNews.com upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their target price on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. Canaccord Genuity Group restated a "buy" rating and issued a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. Finally, Piper Sandler boosted their target price on shares of Perrigo from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, April 8th.

Insider Buying and Selling at Perrigo

In related news, EVP Robert Willis purchased 6,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares in the company, valued at approximately $649,466.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $26.54 per share, with a total value of $252,130.00. Following the completion of the transaction, the chief executive officer now directly owns 20,500 shares in the company, valued at approximately $544,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Willis bought 6,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the transaction, the executive vice president now owns 25,105 shares of the company's stock, valued at $649,466.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.40% of the company's stock.

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.