California Public Employees Retirement System Boosts Stock Position in Perrigo Company plc (NYSE:PRGO)

California Public Employees Retirement System lifted its position in Perrigo Company plc (NYSE:PRGO) by 31.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 517,337 shares of the company’s stock after purchasing an additional 122,577 shares during the quarter. California Public Employees Retirement System owned 0.38% of Perrigo worth $17,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Perrigo by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,328,895 shares of the company’s stock worth $510,968,000 after purchasing an additional 215,794 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Perrigo by 4.8% in the 1st quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock valued at $465,469,000 after acquiring an additional 554,915 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Perrigo by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,515,682 shares of the company’s stock valued at $233,715,000 after acquiring an additional 94,078 shares during the last quarter. State Street Corp lifted its stake in shares of Perrigo by 4.8% in the 1st quarter. State Street Corp now owns 4,270,353 shares of the company’s stock valued at $164,110,000 after acquiring an additional 193,783 shares during the last quarter. Finally, Wolf Hill Capital Management LP lifted its stake in shares of Perrigo by 168.9% in the 1st quarter. Wolf Hill Capital Management LP now owns 3,959,634 shares of the company’s stock valued at $142,032,000 after acquiring an additional 2,486,987 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Perrigo news, EVP Alison Ives bought 2,040 shares of the stock in a transaction dated Thursday, November 16th. The stock was purchased at an average cost of $29.34 per share, for a total transaction of $59,853.60. Following the completion of the acquisition, the executive vice president now owns 10,380 shares of the company’s stock, valued at $304,549.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Alison Ives purchased 2,040 shares of Perrigo stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $29.34 per share, with a total value of $59,853.60. Following the completion of the transaction, the executive vice president now directly owns 10,380 shares of the company’s stock, valued at $304,549.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eduardo Guarita Bezerra purchased 5,000 shares of Perrigo stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $29.18 per share, with a total value of $145,900.00. Following the transaction, the chief financial officer now directly owns 8,428 shares of the company’s stock, valued at $245,929.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 18,040 shares of company stock worth $524,644. Insiders own 0.70% of the company’s stock.

Perrigo Stock Up 3.1 %

Shares of NYSE:PRGO opened at $30.11 on Monday. The stock’s 50-day moving average is $30.41 and its 200 day moving average is $33.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.74 and a quick ratio of 1.60. The company has a market cap of $4.08 billion, a PE ratio of 602.20 and a beta of 0.87. Perrigo Company plc has a 1 year low of $26.81 and a 1 year high of $40.28.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a return on equity of 6.98% and a net margin of 0.15%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. Sell-side analysts anticipate that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.273 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.09 annualized dividend and a dividend yield of 3.63%. Perrigo’s payout ratio is 2,180.00%.

Analyst Upgrades and Downgrades

PRGO has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Perrigo in a research note on Friday. They issued an “overweight” rating and a $37.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Perrigo from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.