Perrigo Company plc (NYSE:PRGO) Holdings Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in Perrigo Company plc (NYSE:PRGO) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,484 shares of the company’s stock after selling 1,841 shares during the period. Park Avenue Securities LLC’s holdings in Perrigo were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo in the first quarter valued at $48,000. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo during the 2nd quarter valued at about $72,000. TFC Financial Management Inc. grew its stake in shares of 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 purchasing an additional 700 shares during the last quarter. Voisard Asset Management Group Inc. lifted its stake in Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the last quarter. Finally, CWM LLC boosted its holdings in Perrigo by 877.0% during the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after buying an additional 7,358 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRGO. Piper Sandler dropped their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,254 shares of company stock worth $1,411,969 over the last quarter. Company insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

Shares of PRGO stock opened at $24.18 on Tuesday. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. 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 stock has a market cap of $3.30 billion, a PE ratio of -345.43 and a beta of 0.48. The stock has a 50-day moving average of $27.06 and a 200-day moving average of $28.17.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were given a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio 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.