Allspring Global Investments Holdings LLC Has $27.27 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 58.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,039,702 shares of the company’s stock after purchasing an additional 383,728 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Perrigo were worth $27,271,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in Perrigo by 4,017.5% during the 1st quarter. SG Americas Securities LLC now owns 129,165 shares of the company’s stock worth $4,158,000 after buying an additional 126,028 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Perrigo by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company’s stock worth $25,982,000 after acquiring an additional 50,871 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Perrigo in the first quarter worth approximately $2,425,000. AQR Capital Management LLC boosted its holdings in Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock valued at $24,926,000 after acquiring an additional 845,470 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Perrigo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company’s stock worth $482,517,000 after purchasing an additional 91,322 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 1.6 %

Shares of NYSE PRGO opened at $25.41 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.47 billion, a PE ratio of -27.61 and a beta of 0.48. The company’s fifty day simple moving average is $26.79 and its 200 day simple moving average is $27.90. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60.

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

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 annualized dividend and a dividend yield of 4.35%. Perrigo’s dividend payout ratio is -119.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PRGO shares. Piper Sandler reduced their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction 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 sale, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock valued at $1,411,969 over the last ninety days. 0.70% 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.