Public Employees Retirement Association of Colorado Trims Stock Position in Perrigo Company plc (NYSE:PRGO)

Public Employees Retirement Association of Colorado cut its stake in Perrigo Company plc (NYSE:PRGO) by 0.6% in the 1st quarter, Holdings Channel reports. The firm owned 578,942 shares of the company’s stock after selling 3,274 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Perrigo were worth $18,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. boosted its holdings in shares of Perrigo by 3.5% during the 4th quarter. NBC Securities Inc. now owns 9,983 shares of the company’s stock valued at $321,000 after buying an additional 340 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Perrigo by 4.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock worth $310,000 after acquiring an additional 380 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Perrigo by 23.8% in the first quarter. Fifth Third Bancorp now owns 2,071 shares of the company’s stock worth $67,000 after acquiring an additional 398 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Perrigo by 2.1% in the 4th quarter. Xponance Inc. now owns 20,153 shares of the company’s stock worth $649,000 after purchasing an additional 410 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

Shares of Perrigo stock traded down $0.29 on Monday, hitting $27.82. 783,682 shares of the company’s stock were exchanged, compared to its average volume of 1,706,573. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.08 and a current ratio of 1.81. The stock has a market capitalization of $3.79 billion, a PE ratio of -398.57 and a beta of 0.51. Perrigo Company plc has a 1 year low of $24.82 and a 1 year high of $40.28. The company has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $29.80.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Perrigo’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st were paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, May 31st. Perrigo’s payout ratio is -1,571.43%.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen bought 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the purchase, the executive vice president now owns 101,853 shares in the company, valued at $2,841,698.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. Piper Sandler reduced their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd.

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.