Perrigo Company plc (NYSE:PRGO) Shares Purchased by Copeland Capital Management LLC

Copeland Capital Management LLC boosted its stake in Perrigo Company plc (NYSE:PRGO) by 23.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,482,544 shares of the company’s stock after purchasing an additional 465,161 shares during the period. Copeland Capital Management LLC owned about 1.82% of Perrigo worth $65,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo in the first quarter valued at $48,000. Beach Investment Counsel Inc. PA acquired a new position in Perrigo in the 2nd quarter valued at about $72,000. TFC Financial Management Inc. increased its stake in Perrigo by 39.7% during the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after purchasing an additional 700 shares during the period. Voisard Asset Management Group Inc. lifted its position in shares of 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 purchasing an additional 3,900 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after purchasing an additional 7,358 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Price Performance

Perrigo stock opened at $25.85 on Tuesday. The stock has a market cap of $3.52 billion, a P/E ratio of -369.29 and a beta of 0.48. The company has a fifty day simple moving average of $26.82 and a 200-day simple moving average of $27.97. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. Equities analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, August 30th. Perrigo’s dividend payout ratio (DPR) is -1,571.43%.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the firm’s 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 transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock worth $1,411,969 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRGO. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Piper Sandler decreased their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.