Systematic Financial Management LP Raises Stake in Perrigo Company plc (NYSE:PRGO)

Systematic Financial Management LP boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,301,724 shares of the company's stock after acquiring an additional 49,071 shares during the quarter. Systematic Financial Management LP owned 0.95% of Perrigo worth $33,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after buying an additional 37,268 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Perrigo by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock valued at $567,000 after purchasing an additional 436 shares during the period. O Keefe Stevens Advisory Inc. boosted its stake in shares of Perrigo by 8.6% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 198,129 shares of the company's stock worth $5,094,000 after acquiring an additional 15,613 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Perrigo by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 304,948 shares of the company's stock worth $7,840,000 after buying an additional 28,843 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Perrigo during the fourth quarter valued at approximately $691,000. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Perrigo has a consensus rating of "Hold" and a consensus price target of $33.00.

Insider Activity

In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares of the company's stock, valued at $923,795.04. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company's stock.

Perrigo Trading Up 2.8%

Shares of Perrigo stock opened at $27.03 on Friday. The stock has a market cap of $3.72 billion, a P/E ratio of -23.10 and a beta of 0.45. The stock's 50 day simple moving average is $26.25 and its 200-day simple moving average is $26.15. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. Analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.29%. Perrigo's dividend payout ratio is currently -88.55%.

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.

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