Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Perrigo Company plc (NYSE:PRGO)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Perrigo Company plc (NYSE:PRGO) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,083 shares of the company’s stock after purchasing an additional 923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Perrigo were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in Perrigo in the first quarter worth approximately $48,000. Parallel Advisors LLC lifted its position in shares of Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after purchasing an additional 821 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Perrigo by 23.8% during the first quarter. Fifth Third Bancorp now owns 2,071 shares of the company’s stock worth $67,000 after purchasing an additional 398 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in Perrigo by 48.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,156 shares of the company’s stock valued at $69,000 after buying an additional 705 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Perrigo in the second quarter valued at $72,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRGO shares. Piper Sandler lowered their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

Shares of PRGO stock opened at $28.49 on Thursday. The stock’s 50-day moving average is $27.63 and its two-hundred day moving average is $28.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. Perrigo Company plc has a 1 year low of $24.82 and a 1 year high of $35.90. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -407.00 and a beta of 0.49.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. Analysts predict that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, August 30th. Perrigo’s dividend payout ratio is currently -1,571.43%.

Perrigo Company 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.