Vanguard Personalized Indexing Management LLC Reduces Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Vanguard Personalized Indexing Management LLC lessened its stake in shares of Perrigo Company plc (NYSE:PRGO) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,638 shares of the company’s stock after selling 2,392 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Perrigo were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Perrigo during the 1st quarter worth about $48,000. Parallel Advisors LLC increased its position in 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 in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in Perrigo in the 2nd quarter worth about $72,000. TFC Financial Management Inc. boosted its stake in Perrigo by 39.7% in the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after buying an additional 700 shares during the last quarter. Finally, Voisard Asset Management Group Inc. boosted its stake in Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after buying an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PRGO shares. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Perrigo presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insiders Place Their Bets

In other news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares in the company, valued at $164,045.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by company insiders.

Perrigo Trading Up 0.1 %

NYSE:PRGO opened at $25.65 on Friday. Perrigo Company plc has a 12-month low of $24.82 and a 12-month high of $34.60. The firm has a market capitalization of $3.50 billion, a P/E ratio of -366.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The business has a 50 day simple moving average of $27.78 and a 200 day simple moving average of $28.67.

Perrigo (NYSE:PRGO) last announced 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 company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. Equities research analysts predict that Perrigo Company plc will post 2.57 EPS for the current year.

Perrigo Dividend Announcement

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