Stifel Financial Corp grew its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,834 shares of the company's stock after purchasing an additional 10,556 shares during the quarter. Stifel Financial Corp owned about 0.11% of Perrigo worth $3,698,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Perrigo in the third quarter worth about $3,717,000. Barclays PLC increased its position in Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after buying an additional 37,268 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock valued at $14,190,000 after buying an additional 213,221 shares during the last quarter. Virtu Financial LLC bought a new stake in Perrigo during the 3rd quarter valued at about $909,000. Finally, Access Investment Management LLC purchased a new position in shares of Perrigo in the fourth quarter worth $7,989,000. 95.91% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Perrigo
In related news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, Argus downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $33.00.
Read Our Latest Analysis on Perrigo
Perrigo Price Performance
NYSE:PRGO traded up $0.38 during trading hours on Friday, reaching $25.65. The stock had a trading volume of 888,624 shares, compared to its average volume of 1,522,933. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock has a market capitalization of $3.50 billion, a PE ratio of -21.92 and a beta of 0.45. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The company has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $26.11.
Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.
Perrigo Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Friday, May 30th. Perrigo's payout ratio is currently -92.80%.
Perrigo Profile
(
Free Report)
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.
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