Russell Investments Group Ltd. Decreases Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Russell Investments Group Ltd. decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 756,276 shares of the company’s stock after selling 16,785 shares during the period. Russell Investments Group Ltd. owned about 0.56% of Perrigo worth $24,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. SG Americas Securities LLC purchased a new stake in shares of Perrigo during the 3rd quarter valued at about $119,000. Handelsbanken Fonder AB increased its holdings in Perrigo by 14.4% during the third quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $735,000 after buying an additional 2,900 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Perrigo in the third quarter worth approximately $261,000. Xponance Inc. boosted its stake in shares of Perrigo by 7.3% during the 3rd quarter. Xponance Inc. now owns 19,743 shares of the company’s stock worth $631,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Perrigo during the 3rd quarter valued at $283,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PRGO. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th. Piper Sandler lifted their price objective on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th.

Insider Transactions at Perrigo

In other news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average cost of $26.54 per share, with a total value of $252,130.00. Following the completion of the purchase, the chief executive officer now owns 20,500 shares in the company, valued at $544,070. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Perrigo news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the transaction, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alison Ives bought 2,490 shares of Perrigo stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the acquisition, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 17,990 shares of company stock valued at $475,227. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

NYSE:PRGO opened at $32.90 on Thursday. The stock has a 50-day moving average price of $30.54 and a 200 day moving average price of $30.85. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Perrigo Company plc has a 12-month low of $25.77 and a 12-month high of $40.28.

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

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders 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 dividend yield of 3.36%. Perrigo’s payout ratio is -1,100.00%.

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.