Bank of New York Mellon Corp Reduces Holdings in Perrigo Company plc (NYSE:PRGO)

Bank of New York Mellon Corp reduced its stake in shares of Perrigo Company plc (NYSE:PRGO) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 983,941 shares of the company’s stock after selling 44,231 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Perrigo worth $27,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings in shares of Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after acquiring an additional 1,340 shares in the last quarter. Parallel Advisors LLC boosted its position in Perrigo by 176.9% in the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock valued at $48,000 after buying an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Perrigo by 138.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock worth $49,000 after purchasing an additional 1,018 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Perrigo by 62.0% during the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock valued at $62,000 after buying an additional 849 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Perrigo by 110.4% during the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company’s stock valued at $73,000 after buying an additional 1,374 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Perrigo currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Perrigo Stock Performance

NYSE PRGO opened at $27.08 on Thursday. The stock has a fifty day simple moving average of $26.81 and a 200-day simple moving average of $26.10. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $30.93. The stock has a market cap of $3.72 billion, a PE ratio of -20.67 and a beta of 0.45. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. Equities analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Friday, May 30th. Perrigo’s dividend payout ratio (DPR) is presently -88.55%.

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.