Mutual of America Capital Management LLC Lowers Position in Perrigo Company plc (NYSE:PRGO)

Mutual of America Capital Management LLC trimmed its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 83,729 shares of the company’s stock after selling 4,284 shares during the period. Mutual of America Capital Management LLC’s holdings in Perrigo were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PRGO. Dark Forest Capital Management LP purchased a new stake in shares of Perrigo during the first quarter valued at approximately $31,000. Ronald Blue Trust Inc. increased its position in shares of Perrigo by 132.3% during the third quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock valued at $39,000 after acquiring an additional 659 shares during the last quarter. Blue Trust Inc. increased its position in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Perrigo by 345.5% during the first quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock valued at $51,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Perrigo by 39.5% during the third quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock valued at $55,000 after acquiring an additional 485 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Perrigo

In related news, EVP Alison Ives purchased 2,490 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the acquisition, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Perrigo news, EVP Robert Willis acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares of the company’s stock, valued at $649,466.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alison Ives acquired 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $27.26 per share, with a total value of $67,877.40. Following the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Insiders purchased 17,990 shares of company stock valued at $475,227 over the last three months. Company insiders own 0.70% of the company’s stock.

Perrigo Price Performance

Shares of NYSE PRGO opened at $29.94 on Friday. The stock has a fifty day simple moving average of $30.64 and a two-hundred day simple moving average of $30.78. Perrigo Company plc has a 1-year low of $25.77 and a 1-year high of $40.28. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -299.40 and a beta of 0.64. 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 (NYSE:PRGO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts anticipate that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a $0.276 dividend. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Thursday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -1,100.00%.

About Perrigo

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.