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

AQR Capital Management LLC raised its holdings in Perrigo Company plc (NYSE:PRGO) by 675.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 970,637 shares of the company’s stock after acquiring an additional 845,470 shares during the period. AQR Capital Management LLC owned 0.71% of Perrigo worth $24,926,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PRGO. Central Pacific Bank Trust Division purchased a new stake in Perrigo during the 1st quarter worth $48,000. Parallel Advisors LLC increased its stake in Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after buying an additional 821 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in Perrigo during the second quarter worth approximately $72,000. TFC Financial Management Inc. increased its position in shares of Perrigo by 39.7% during the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after purchasing an additional 700 shares during the period. Finally, Voisard Asset Management Group Inc. raised its position in Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after acquiring an additional 3,900 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRGO shares. Jefferies Financial Group reissued 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. Piper Sandler lowered their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Perrigo presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Performance

PRGO opened at $25.65 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market capitalization of $3.50 billion, a PE ratio of -366.43 and a beta of 0.49. The business has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $28.65. Perrigo Company plc has a 1 year low of $24.82 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last released 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. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue was down 10.7% on a year-over-year basis. Research analysts expect that Perrigo Company plc will post 2.57 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is currently -1,571.43%.

Insider Activity

In other Perrigo 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 transaction of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Svend Andersen sold 28,300 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by corporate insiders.

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.