Parkside Financial Bank & Trust Acquires 983 Shares of Perrigo Company plc (NYSE:PRGO)

Parkside Financial Bank & Trust grew its stake in Perrigo Company plc (NYSE:PRGO) by 1,694.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,041 shares of the company’s stock after buying an additional 983 shares during the period. Parkside Financial Bank & Trust’s holdings in Perrigo were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after purchasing an additional 399 shares during the last quarter. Fifth Third Bancorp lifted its position in Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock worth $55,000 after acquiring an additional 485 shares during the last quarter. Signaturefd LLC boosted its holdings in Perrigo by 25.6% during the fourth quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock valued at $72,000 after acquiring an additional 457 shares during the period. TFC Financial Management Inc. bought a new position in shares of Perrigo in the third quarter worth about $78,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Perrigo during the 3rd quarter worth about $97,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Performance

Perrigo stock opened at $31.94 on Friday. The business has a 50 day simple moving average of $30.52 and a 200 day simple moving average of $30.80. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79.

Perrigo (NYSE:PRGO) last issued its earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts anticipate that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were given a dividend of $0.276 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. Perrigo’s dividend payout ratio is -1,100.00%.

Insider Activity at Perrigo

In other Perrigo news, EVP Robert Willis acquired 6,000 shares of Perrigo stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Alison Ives purchased 2,490 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, with a total value of $67,877.40. Following the completion of the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Willis acquired 6,000 shares of Perrigo stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares in the company, valued at approximately $649,466.35. The disclosure for this purchase can be found here. Insiders acquired 17,990 shares of company stock valued at $475,227 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

PRGO has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their target price on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler boosted their price target on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th.

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.