Rockefeller Capital Management L.P. Acquires Shares of 430,786 Perrigo Company plc $PRGO

Rockefeller Capital Management L.P. bought a new position in shares of Perrigo Company plc (NYSE:PRGO) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 430,786 shares of the company’s stock, valued at approximately $11,511,000.

A number of other institutional investors have also recently added to or reduced their stakes in PRGO. Cetera Investment Advisers increased its holdings in Perrigo by 30.2% in the 2nd quarter. Cetera Investment Advisers now owns 13,795 shares of the company’s stock worth $369,000 after acquiring an additional 3,202 shares in the last quarter. Creative Planning increased its stake in shares of Perrigo by 51.5% during the second quarter. Creative Planning now owns 36,350 shares of the company’s stock worth $971,000 after purchasing an additional 12,355 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Perrigo by 8.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,322 shares of the company’s stock worth $944,000 after purchasing an additional 2,710 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Perrigo by 6.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 52,471 shares of the company’s stock valued at $1,402,000 after buying an additional 3,114 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Perrigo by 7.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,301 shares of the company’s stock worth $355,000 after buying an additional 914 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRGO shares. Jefferies Financial Group reduced their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a report on Monday, October 27th. Wall Street Zen downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $32.00) on shares of Perrigo in a research note on Thursday, November 6th. Canaccord Genuity Group reduced their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $22.50.

Perrigo Stock Down 4.2%

Shares of NYSE:PRGO opened at $12.82 on Thursday. Perrigo Company plc has a 52-week low of $12.64 and a 52-week high of $30.93. The stock has a market cap of $1.76 billion, a P/E ratio of -22.11 and a beta of 0.42. The business has a fifty day moving average of $19.88 and a two-hundred day moving average of $23.77. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 annualized dividend and a dividend yield of 9.0%. Perrigo’s dividend payout ratio is -305.26%.

Insider Transactions at Perrigo

In other Perrigo news, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average cost of $22.41 per share, for a total transaction of $28,124.55. Following the completion of the transaction, the executive vice president owned 1,255 shares of the company’s stock, valued at approximately $28,124.55. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Willis bought 1,488 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $24.10 per share, with a total value of $35,860.80. Following the purchase, the executive vice president owned 41,939 shares of the company’s stock, valued at $1,010,729.90. The trade was a 3.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 10,243 shares of company stock worth $170,335 in the last 90 days. Insiders own 0.40% of the company’s stock.

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.