Louisiana State Employees Retirement System Invests $1.23 Million in Perrigo Company plc (NYSE:PRGO)

Louisiana State Employees Retirement System purchased a new stake in Perrigo Company plc (NYSE:PRGO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 38,100 shares of the company's stock, valued at approximately $1,226,000.

Other large investors have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. lifted its stake in shares of Perrigo by 132.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company's stock worth $39,000 after buying an additional 659 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company's stock worth $50,000 after buying an additional 399 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company's stock worth $55,000 after buying an additional 485 shares during the last quarter. TFC Financial Management Inc. acquired a new stake in shares of Perrigo during the 3rd quarter worth about $78,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Perrigo during the 3rd quarter worth about $97,000. Institutional investors and hedge funds own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRGO. Piper Sandler lifted their price objective on shares of Perrigo from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, February 28th. Canaccord Genuity Group reiterated a "buy" rating and issued a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. Finally, StockNews.com upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd.

Insider Activity at Perrigo

In other Perrigo news, EVP Alison Ives bought 2,490 shares of Perrigo stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares of the company's stock, valued at approximately $439,485.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the transaction, the chief executive officer now owns 20,500 shares of the company's stock, valued at $544,070. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alison Ives purchased 2,490 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the transaction, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 17,990 shares of company stock valued at $475,227. 0.40% of the stock is owned by insiders.

Perrigo Price Performance

PRGO stock traded up $0.43 during mid-day trading on Tuesday, hitting $30.49. The stock had a trading volume of 1,113,007 shares, compared to its average volume of 1,844,204. 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 52 week low of $25.77 and a 52 week high of $40.28. The firm has a market capitalization of $4.13 billion, a P/E ratio of -304.90 and a beta of 0.64. The firm has a fifty day simple moving average of $30.55 and a 200 day simple moving average of $30.78.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.86 EPS 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.75 EPS. The business's quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were issued a dividend of $0.276 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 3.62%. Perrigo's payout ratio is -1,100.00%.

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.