Boston Partners Sells 1,639,260 Shares of Perrigo Company plc (NYSE:PRGO)

Boston Partners lowered its position in Perrigo Company plc (NYSE:PRGO) by 71.2% in the first quarter, Holdings Channel.com reports. The fund owned 663,455 shares of the company’s stock after selling 1,639,260 shares during the period. Boston Partners’ holdings in Perrigo were worth $21,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PRGO. Raymond James & Associates increased its holdings in Perrigo by 78.7% during the 4th quarter. Raymond James & Associates now owns 169,789 shares of the company’s stock valued at $5,464,000 after purchasing an additional 74,782 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Perrigo by 78.5% during the 4th quarter. Pacer Advisors Inc. now owns 20,364 shares of the company’s stock worth $655,000 after buying an additional 8,958 shares during the period. Blue Trust Inc. lifted its position in shares of Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after purchasing an additional 399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Perrigo in the 4th quarter valued at about $927,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Perrigo by 3.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 715,489 shares of the company’s stock valued at $23,024,000 after buying an additional 21,253 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Perrigo

In related news, EVP Svend Andersen acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $27.90 per share, with a total value of $27,900.00. Following the acquisition, the executive vice president now owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Perrigo Stock Down 2.1 %

PRGO stock traded down $0.60 during trading on Friday, reaching $27.58. The stock had a trading volume of 3,935,419 shares, compared to its average volume of 1,549,793. Perrigo Company plc has a one year low of $24.82 and a one year high of $40.28. The company’s 50 day moving average is $26.99 and its two-hundred day moving average is $29.67. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -394.00 and a beta of 0.51.

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 $0.48 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. Perrigo’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be issued a $0.276 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.00%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRGO shares. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Piper Sandler cut their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th.

Perrigo Company 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.