Van ECK Associates Corp Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Van ECK Associates Corp cut its position in Perrigo Company plc (NYSE:PRGO) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,532 shares of the company’s stock after selling 27,613 shares during the period. Van ECK Associates Corp owned 0.10% of Perrigo worth $4,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cooper Creek Partners Management LLC increased its holdings in Perrigo by 1,080.0% in the third quarter. Cooper Creek Partners Management LLC now owns 1,872,508 shares of the company’s stock valued at $59,827,000 after buying an additional 1,713,827 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Perrigo by 1,938.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 301,019 shares of the company’s stock worth $9,618,000 after acquiring an additional 286,251 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. purchased a new stake in Perrigo during the third quarter worth approximately $8,957,000. Allspring Global Investments Holdings LLC boosted its holdings in Perrigo by 62.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 694,236 shares of the company’s stock valued at $22,181,000 after purchasing an additional 265,733 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Perrigo by 1,269.6% in the third quarter. Hsbc Holdings PLC now owns 251,504 shares of the company’s stock valued at $8,061,000 after purchasing an additional 233,141 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Trading Down 0.8 %

NYSE PRGO opened at $32.79 on Monday. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The firm has a market cap of $4.44 billion, a PE ratio of -327.90 and a beta of 0.63. The firm’s fifty day moving average is $30.60 and its two-hundred day moving average is $30.89. 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 quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be given a $0.276 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.37%. Perrigo’s dividend payout ratio (DPR) is -1,100.00%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Perrigo

In other news, CEO Patrick Lockwood-Taylor bought 9,500 shares of Perrigo stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the purchase, the chief executive officer now owns 20,500 shares of the company’s stock, valued at $544,070. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the transaction, the chief executive officer now owns 20,500 shares of the company’s stock, valued at approximately $544,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Willis purchased 6,000 shares of Perrigo stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the acquisition, the executive vice president now directly owns 25,105 shares in the company, valued at $649,466.35. The disclosure for this purchase can be found here. In the last three months, insiders have bought 17,990 shares of company stock valued at $475,227. 0.40% of the stock is owned by company insiders.

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.