California Public Employees Retirement System Decreases Holdings in Perrigo Company plc (NYSE:PRGO)

California Public Employees Retirement System decreased its position in Perrigo Company plc (NYSE:PRGO) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,860 shares of the company’s stock after selling 8,869 shares during the quarter. California Public Employees Retirement System owned 0.18% of Perrigo worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC grew its position in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC lifted its position in Perrigo by 97.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock valued at $108,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Perrigo during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction dated Monday, March 10th. The shares were 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 $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Perrigo Stock Performance

NYSE:PRGO opened at $26.02 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $26.43 and its 200 day simple moving average is $26.13. The stock has a market cap of $3.55 billion, a P/E ratio of -22.24 and a beta of 0.49. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.46%. Perrigo’s 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.