Russell Investments Group Ltd. Lowers Position in Perrigo Company plc (NYSE:PRGO)

Russell Investments Group Ltd. trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756,276 shares of the company’s stock after selling 16,785 shares during the quarter. Russell Investments Group Ltd.’s holdings in Perrigo were worth $24,337,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Perrigo during the third quarter valued at $119,000. Handelsbanken Fonder AB grew its position in shares of Perrigo by 14.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $735,000 after acquiring an additional 2,900 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Perrigo during the 3rd quarter valued at about $261,000. Xponance Inc. increased its stake in shares of Perrigo by 7.3% in the 3rd quarter. Xponance Inc. now owns 19,743 shares of the company’s stock valued at $631,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in Perrigo in the 3rd quarter worth about $283,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Perrigo Trading Up 0.7 %

NYSE PRGO opened at $32.90 on Thursday. 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 Company plc has a 1-year low of $25.77 and a 1-year high of $40.28. The stock’s 50 day simple moving average is $30.54 and its 200-day simple moving average is $30.85.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts anticipate that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.36%. Perrigo’s payout ratio is presently -1,100.00%.

Insider Activity at Perrigo

In related news, EVP Alison Ives bought 2,490 shares of the stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following 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 SEC, which can be accessed through this hyperlink. In related news, EVP Alison Ives bought 2,490 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $27.26 per share, with a total value of $67,877.40. Following the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert Willis purchased 6,000 shares of the stock in a transaction dated 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 transaction, 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. In the last quarter, insiders acquired 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.70% of the company’s stock.

Perrigo 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.