Perrigo Company plc (NYSE:PRGO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Perrigo Company plc (NYSE:PRGO) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,051 shares of the company’s stock after selling 2,689 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Perrigo worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRGO. Los Angeles Capital Management LLC lifted its stake in shares of Perrigo by 1,578.3% during the first quarter. Los Angeles Capital Management LLC now owns 168,164 shares of the company’s stock worth $5,413,000 after purchasing an additional 158,144 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Perrigo by 4,017.5% during the first quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock worth $4,158,000 after purchasing an additional 126,028 shares in the last quarter. Public Employees Retirement Association of Colorado increased 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. Russell Investments Group Ltd. increased its position in shares of Perrigo by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company’s stock worth $25,982,000 after acquiring an additional 50,871 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new stake in shares of Perrigo during the first quarter worth about $2,425,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Down 3.8 %

Shares of Perrigo stock opened at $25.54 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.48 billion, a P/E ratio of -364.86 and a beta of 0.49. Perrigo Company plc has a fifty-two week low of $24.82 and a fifty-two week high of $34.60. The business has a 50-day moving average price of $27.87 and a 200 day moving average price of $28.74.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. Perrigo’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, sell-side analysts forecast that Perrigo Company plc will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, August 30th. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Wall Street Analysts Forecast Growth

PRGO has been the topic of a number of analyst reports. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler dropped their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Perrigo has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity

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 transaction of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ronald Craig Janish sold 13,000 shares of the business’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 transaction of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is currently owned by insiders.

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.