Tower Research Capital LLC TRC Cuts Stock Position in Perrigo Company plc (NYSE:PRGO)

Posted by Defense World Staff on Mar 6th, 2023

Tower Research Capital LLC TRC reduced its position in Perrigo Company plc (NYSE:PRGO – Get Rating) by 63.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,118 shares of the company’s stock after selling 10,449 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Perrigo were worth $218,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PRGO. Private Trust Co. NA increased its position in Perrigo by 228.5% during the 3rd quarter. Private Trust Co. NA now owns 910 shares of the company’s stock valued at $32,000 after buying an additional 633 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Perrigo during the third quarter valued at about $34,000. CWM LLC raised its position in shares of Perrigo by 315.2% in the 3rd quarter. CWM LLC now owns 1,009 shares of the company’s stock valued at $36,000 after purchasing an additional 766 shares during the last quarter. Fifth Third Bancorp boosted its stake in Perrigo by 117.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,274 shares of the company’s stock worth $45,000 after purchasing an additional 687 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Perrigo by 70.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,282 shares of the company’s stock worth $45,000 after purchasing an additional 532 shares during the last quarter. 94.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRGO shares. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Tuesday, February 28th. Raymond James lifted their target price on Perrigo from $42.00 to $43.00 in a report on Sunday.

Perrigo Stock Performance

NYSE PRGO opened at $38.75 on Monday. The firm has a market capitalization of $5.22 billion, a P/E ratio of -40.36 and a beta of 0.79. The stock has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $36.37. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.48 and a current ratio of 2.44. Perrigo Company plc has a fifty-two week low of $30.78 and a fifty-two week high of $43.90.

Perrigo (NYSE:PRGO – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 5.79% and a negative net margin of 2.91%. Perrigo’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. On average, equities analysts forecast that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Friday, March 10th will be issued a $0.273 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.09 dividend on an annualized basis and a yield of 2.82%. Perrigo’s payout ratio is presently -108.33%.

Insider Transactions at Perrigo

In related news, EVP Grainne Quinn sold 2,368 shares of the company’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $31.65, for a total value of $74,947.20. Following the completion of the transaction, the executive vice president now owns 9,118 shares of the company’s stock, valued at approximately $288,584.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Perrigo Profile

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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).