Treasurer of the State of North Carolina Has $1.99 Million Holdings in Perrigo Company plc (NYSE:PRGO)

Posted by on May 20th, 2023

Treasurer of the State of North Carolina grew its stake in Perrigo Company plc (NYSE:PRGO – Get Rating) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,290 shares of the company’s stock after buying an additional 740 shares during the period. Treasurer of the State of North Carolina’s holdings in Perrigo were worth $1,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRGO. CWM LLC lifted its position in shares of Perrigo by 315.2% during the 3rd quarter. CWM LLC now owns 1,009 shares of the company’s stock worth $36,000 after purchasing an additional 766 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Perrigo by 70.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,282 shares of the company’s stock worth $45,000 after purchasing an additional 532 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Perrigo by 1,364.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,274 shares of the company’s stock worth $45,000 after purchasing an additional 1,187 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Perrigo by 122.8% in the 4th quarter. Benjamin Edwards Inc. now owns 1,435 shares of the company’s stock valued at $49,000 after acquiring an additional 791 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in Perrigo by 47.7% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,898 shares of the company’s stock valued at $65,000 after acquiring an additional 613 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com assumed coverage on Perrigo in a report on Thursday. They issued a “buy” rating for the company. Canaccord Genuity Group started coverage on Perrigo in a report on Tuesday, March 7th. They issued a “buy” rating and a $49.00 price target for the company. Finally, Raymond James upped their price objective on Perrigo from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Sunday, March 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, CEO Murray S. Kessler sold 197,646 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $35.75, for a total value of $7,065,844.50. Following the transaction, the chief executive officer now directly owns 2,668 shares in the company, valued at approximately $95,381. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Geoffrey M. Parker purchased 5,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were bought at an average price of $38.05 per share, with a total value of $190,250.00. Following the purchase, the director now directly owns 15,879 shares in the company, valued at approximately $604,195.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Murray S. Kessler sold 197,646 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $35.75, for a total value of $7,065,844.50. Following the completion of the transaction, the chief executive officer now directly owns 2,668 shares in the company, valued at approximately $95,381. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 214,869 shares of company stock worth $7,685,712. Insiders own 0.70% of the company’s stock.

Perrigo Price Performance

NYSE PRGO opened at $33.66 on Friday. Perrigo Company plc has a one year low of $30.78 and a one year high of $43.90. The stock’s 50 day simple moving average is $35.63 and its 200 day simple moving average is $35.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.43 and a current ratio of 2.52.

Perrigo (NYSE:PRGO – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 6.21% and a negative net margin of 2.85%. Perrigo’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. Sell-side analysts anticipate 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, June 20th. Investors of record on Friday, June 2nd will be given a dividend of $0.273 per share. The ex-dividend date is Thursday, June 1st. This represents a $1.09 dividend on an annualized basis and a yield of 3.24%. Perrigo’s dividend payout ratio (DPR) is presently -113.54%.

About Perrigo

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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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