Perrigo Company plc (NYSE:PRGO) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC boosted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 675.5% in the second quarter, HoldingsChannel.com reports. The fund owned 970,637 shares of the company’s stock after purchasing an additional 845,470 shares during the period. AQR Capital Management LLC’s holdings in Perrigo were worth $24,926,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Perrigo by 69.1% during the fourth quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the period. Peapack Gladstone Financial Corp purchased a new position in Perrigo during the 4th quarter worth approximately $213,000. Public Employees Retirement Association of Colorado grew its position in shares of Perrigo by 3,796.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock worth $18,736,000 after acquiring an additional 567,274 shares during the last quarter. Gabelli Funds LLC increased its stake in Perrigo by 3.2% in the fourth quarter. Gabelli Funds LLC now owns 425,000 shares of the company’s stock valued at $13,676,000 after purchasing an additional 13,000 shares during the period. Finally, Keeley Teton Advisors LLC raised its stake in Perrigo by 7.6% during the 4th quarter. Keeley Teton Advisors LLC now owns 216,264 shares of the company’s stock valued at $6,959,000 after acquiring an additional 15,224 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRGO shares. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, Piper Sandler dropped their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Svend Andersen sold 28,300 shares of the company’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 completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock valued at $1,411,969 in the last quarter. Company insiders own 0.70% of the company’s stock.

Perrigo Price Performance

PRGO opened at $25.65 on Monday. The company has a market capitalization of $3.50 billion, a P/E ratio of -366.43 and a beta of 0.49. Perrigo Company plc has a 1-year low of $24.82 and a 1-year high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The company has a 50-day moving average of $27.78 and a 200-day moving average of $28.65.

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 the consensus estimate 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. Equities analysts expect that Perrigo Company plc will post 2.57 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is -1,571.43%.

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.