Perrigo Company plc (NYSE:PRGO) Position Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Perrigo Company plc (NYSE:PRGO) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,948 shares of the company’s stock after buying an additional 28,843 shares during the period. Nisa Investment Advisors LLC’s holdings in Perrigo were worth $7,840,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. acquired a new stake in shares of Perrigo during the third quarter worth $3,717,000. Barclays PLC lifted its stake in Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after buying an additional 37,268 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Perrigo in the third quarter worth about $7,111,000. AQR Capital Management LLC increased its position in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after acquiring an additional 845,470 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Perrigo by 94.1% during the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after acquiring an additional 73,457 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $24.73 on Friday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -21.14 and a beta of 0.53. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.67. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $26.30 and a 200 day simple moving average of $26.68.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were paid a dividend of $0.276 per share. The ex-dividend date was Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.46%. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Activity

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PRGO. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.00.

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.