Bank of New York Mellon Corp Has $46.93 Million Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Bank of New York Mellon Corp boosted its holdings in shares of Perrigo Company plc (NYSE:PRGO – Get Rating) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,315,957 shares of the company’s stock after buying an additional 1,548 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Perrigo worth $46,928,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PRGO. State of Michigan Retirement System raised its holdings in shares of Perrigo by 0.9% in the second quarter. State of Michigan Retirement System now owns 34,258 shares of the company’s stock valued at $1,390,000 after purchasing an additional 300 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Perrigo by 0.9% in the third quarter. Arizona State Retirement System now owns 36,564 shares of the company’s stock valued at $1,304,000 after purchasing an additional 311 shares during the last quarter. Xponance Inc. raised its holdings in shares of Perrigo by 2.0% in the third quarter. Xponance Inc. now owns 16,185 shares of the company’s stock valued at $577,000 after purchasing an additional 323 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Perrigo by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 35,300 shares of the company’s stock valued at $1,432,000 after purchasing an additional 344 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in shares of Perrigo by 1.2% in the third quarter. First Republic Investment Management Inc. now owns 36,421 shares of the company’s stock valued at $1,299,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.

Insiders Place Their Bets

In other Perrigo news, EVP Grainne Quinn sold 2,368 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $31.65, for a total transaction of $74,947.20. Following the completion of the transaction, the executive vice president now owns 9,118 shares in the company, valued at $288,584.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Grainne Quinn sold 2,368 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $31.65, for a total value of $74,947.20. Following the sale, the executive vice president now directly owns 9,118 shares of the company’s stock, valued at $288,584.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald Craig Janish sold 4,500 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $36.92, for a total transaction of $166,140.00. Following the completion of the sale, the executive vice president now directly owns 20,191 shares in the company, valued at $745,451.72. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

PRGO has been the subject of several analyst reports. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday. Raymond James increased their target price on shares of Perrigo from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Sunday, March 5th. Finally, Canaccord Genuity Group initiated coverage on shares of Perrigo in a research report on Tuesday, March 7th. They set a “buy” rating and a $49.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Perrigo Stock Performance

PRGO opened at $35.85 on Friday. The firm has a 50-day moving average of $36.52 and a 200 day moving average of $36.27. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 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 posted its quarterly earnings results on Monday, February 27th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a negative net margin of 2.91% and a positive return on equity of 5.79%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts forecast that Perrigo Company plc will post 2.61 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Friday, March 10th will be given a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from Perrigo’s previous quarterly dividend of $0.26. Perrigo’s dividend payout ratio (DPR) is currently -113.54%.

About Perrigo

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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).