KLP Kapitalforvaltning AS Acquires 1,300 Shares of Perrigo Company plc $PRGO

KLP Kapitalforvaltning AS boosted its position in shares of Perrigo Company plc (NYSE:PRGO) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,900 shares of the company’s stock after purchasing an additional 1,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Perrigo were worth $772,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PRGO. Diamond Hill Capital Management Inc. increased its position in Perrigo by 0.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock valued at $53,128,000 after acquiring an additional 11,256 shares in the last quarter. Principal Financial Group Inc. increased its position in Perrigo by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock valued at $8,800,000 after acquiring an additional 914 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Perrigo in the 1st quarter valued at about $1,619,000. GAMMA Investing LLC increased its position in Perrigo by 91.9% in the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock valued at $103,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Perrigo by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company’s stock valued at $31,645,000 after acquiring an additional 50,009 shares in the last quarter. 95.91% of the stock is owned by institutional investors.

Perrigo Stock Up 0.6%

Shares of NYSE PRGO opened at $21.50 on Friday. The stock has a market cap of $2.96 billion, a P/E ratio of -37.07 and a beta of 0.43. The firm has a 50 day moving average price of $22.40 and a 200 day moving average price of $25.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. Perrigo Company plc has a 52-week low of $20.51 and a 52-week high of $30.93.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo’s payout ratio is currently -200.00%.

Wall Street Analyst Weigh In

PRGO has been the subject of several research reports. Canaccord Genuity Group lowered their price objective on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Robert Willis acquired 1,488 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $24.10 per share, with a total value of $35,860.80. Following the completion of the transaction, the executive vice president directly owned 41,939 shares in the company, valued at $1,010,729.90. This trade represents a 3.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the transaction, the chief financial officer owned 48,949 shares of the company’s stock, valued at $1,113,100.26. This represents a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 10,118 shares of company stock worth $232,699. Company insiders own 0.70% of the company’s stock.

Perrigo Profile

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.