10,729 Shares in Perrigo Company plc (NYSE:PRGO) Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co bought a new stake in Perrigo Company plc (NYSE:PRGO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,729 shares of the company’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRGO. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Perrigo by 1.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 290,710 shares of the company’s stock worth $7,474,000 after acquiring an additional 3,255 shares during the last quarter. Sound Shore Management Inc. CT boosted its position in shares of Perrigo by 0.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company’s stock worth $68,614,000 after purchasing an additional 9,868 shares in the last quarter. Cedar Wealth Management LLC grew its holdings in shares of Perrigo by 2.1% in the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after buying an additional 450 shares during the period. LPL Financial LLC increased its position in shares of Perrigo by 34.4% in the 4th quarter. LPL Financial LLC now owns 37,738 shares of the company’s stock valued at $970,000 after buying an additional 9,663 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake in Perrigo by 5.1% during the 4th quarter. Fox Run Management L.L.C. now owns 11,381 shares of the company’s stock worth $293,000 after buying an additional 548 shares during the period. Institutional investors own 95.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PRGO shares. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.00.

Insider Activity

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Perrigo Stock Up 1.1 %

NYSE:PRGO opened at $28.06 on Monday. The stock has a 50-day simple moving average of $26.11 and a 200 day simple moving average of $26.15. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a market cap of $3.83 billion, a PE ratio of -23.98 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. On average, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 7th. Perrigo’s dividend payout ratio is currently -92.80%.

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.