Perrigo Company plc (NYSE:PRGO) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its position in Perrigo Company plc (NYSE:PRGO) by 96.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,200 shares of the company’s stock after selling 106,800 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Perrigo were worth $108,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in Perrigo during the first quarter worth $48,000. Parallel Advisors LLC lifted its position in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the last quarter. Beach Investment Counsel Inc. PA acquired a new position in shares of Perrigo in the 2nd quarter valued at about $72,000. TFC Financial Management Inc. grew its position in shares of Perrigo by 39.7% during the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after buying an additional 700 shares during the last quarter. Finally, Voisard Asset Management Group Inc. raised its stake in Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after acquiring an additional 3,900 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Up 0.1 %

PRGO opened at $25.65 on Friday. The stock’s 50 day moving average price is $27.78 and its 200 day moving average price is $28.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The stock has a market cap of $3.50 billion, a P/E ratio of -366.43 and a beta of 0.49. Perrigo Company plc has a 12 month low of $24.82 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, research analysts predict that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock worth $1,411,969 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PRGO has been the subject of several recent research reports. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Piper Sandler lowered their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

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.