Perrigo Company plc (NYSE:PRGO) Shares Acquired by Truist Financial Corp

Posted by Defense World Staff on Aug 11th, 2023

Truist Financial Corp raised its stake in shares of Perrigo Company plc (NYSE:PRGO – Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,660 shares of the company’s stock after purchasing an additional 14,903 shares during the quarter. Truist Financial Corp owned about 0.17% of Perrigo worth $8,059,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Perrigo in the first quarter worth $1,893,000. Pitcairn Co. increased its stake in shares of Perrigo by 8.6% in the first quarter. Pitcairn Co. now owns 27,712 shares of the company’s stock worth $994,000 after acquiring an additional 2,187 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Perrigo by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 58,710 shares of the company’s stock worth $2,106,000 after acquiring an additional 420 shares during the period. American Assets Investment Management LLC increased its stake in shares of Perrigo by 100.0% in the first quarter. American Assets Investment Management LLC now owns 100,000 shares of the company’s stock worth $3,587,000 after acquiring an additional 50,000 shares during the period. Finally, Chase Investment Counsel Corp increased its stake in shares of Perrigo by 5.6% in the first quarter. Chase Investment Counsel Corp now owns 10,965 shares of the company’s stock worth $393,000 after acquiring an additional 585 shares during the period. Institutional investors and hedge funds own 95.06% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the topic of a number of research reports. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Perrigo from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perrigo has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Read Our Latest Research Report on Perrigo

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen acquired 2,900 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average cost of $33.41 per share, with a total value of $96,889.00. Following the completion of the acquisition, the executive vice president now directly owns 68,741 shares in the company, valued at approximately $2,296,636.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Perrigo news, EVP Svend Andersen purchased 2,900 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were purchased at an average cost of $33.41 per share, for a total transaction of $96,889.00. Following the completion of the transaction, the executive vice president now owns 68,741 shares of the company’s stock, valued at approximately $2,296,636.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey M. Parker purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average price of $33.06 per share, for a total transaction of $330,600.00. Following the completion of the transaction, the director now directly owns 25,879 shares of the company’s stock, valued at approximately $855,559.74. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.

Perrigo Trading Down 1.1 %

PRGO stock opened at $38.50 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.43 and a current ratio of 2.62. The firm’s fifty day moving average is $34.42 and its 200 day moving average is $35.30. Perrigo Company plc has a one year low of $30.78 and a one year high of $42.21.

Perrigo (NYSE:PRGO – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 1.22% and a positive return on equity of 6.79%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, August 31st. Perrigo’s payout ratio is -259.52%.

Perrigo Company Profile

(Free Report)

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.