Rhumbline Advisers Sells 4,653 Shares of Perrigo Company plc (NYSE:PRGO)

Rhumbline Advisers trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,968 shares of the company’s stock after selling 4,653 shares during the quarter. Rhumbline Advisers’ holdings in Perrigo were worth $9,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PRGO. Norges Bank purchased a new position in Perrigo during the fourth quarter valued at $41,982,000. National Bank of Canada FI purchased a new position in Perrigo during the first quarter valued at $19,040,000. Public Employees Retirement Association of Colorado lifted its position in Perrigo by 3,796.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock valued at $18,736,000 after purchasing an additional 567,274 shares in the last quarter. Corient Private Wealth LLC lifted its position in Perrigo by 463.3% during the fourth quarter. Corient Private Wealth LLC now owns 663,104 shares of the company’s stock valued at $21,339,000 after purchasing an additional 545,395 shares in the last quarter. Finally, Perpetual Ltd lifted its position in Perrigo by 20.5% during the first quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock valued at $87,490,000 after purchasing an additional 472,245 shares in the last quarter. 95.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PRGO shares. Piper Sandler lowered their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at $2,041,095.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction dated Tuesday, August 20th. The stock was 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 directly owns 73,553 shares in the company, valued at $2,041,095.75. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Perrigo Price Performance

NYSE:PRGO opened at $27.14 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $27.78 and its two-hundred day simple moving average is $28.77. The stock has a market cap of $3.70 billion, a PE ratio of -387.71 and a beta of 0.49. Perrigo Company plc has a 52 week low of $24.82 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. As a group, analysts forecast that Perrigo Company plc will post 2.57 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. Perrigo’s dividend payout ratio is presently -1,571.43%.

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.