First Trust Direct Indexing L.P. Sells 318 Shares of Perrigo Company plc (NYSE:PRGO)

Posted by Defense World Staff on Sep 28th, 2023

First Trust Direct Indexing L.P. decreased its position in Perrigo Company plc (NYSE:PRGO – Free Report) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,280 shares of the company’s stock after selling 318 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Perrigo were worth $213,000 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. CWM LLC lifted its holdings in shares of Perrigo by 73.0% in the 1st quarter. CWM LLC now owns 699 shares of the company’s stock worth $25,000 after acquiring an additional 295 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Perrigo in the first quarter worth $27,000. Dark Forest Capital Management LP purchased a new stake in Perrigo during the first quarter valued at about $31,000. Parallel Advisors LLC grew its stake in shares of Perrigo by 434.8% during the first quarter. Parallel Advisors LLC now owns 1,214 shares of the company’s stock valued at $44,000 after buying an additional 987 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Perrigo by 345.5% in the first quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock worth $51,000 after buying an additional 1,109 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Perrigo Stock Performance

Perrigo stock opened at $31.50 on Thursday. Perrigo Company plc has a 1-year low of $30.78 and a 1-year high of $41.44. The firm has a market cap of $4.27 billion, a P/E ratio of -75.00 and a beta of 0.81. The company has a current ratio of 2.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $35.81 and a 200-day moving average of $34.99.

Perrigo (NYSE:PRGO – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 1.22%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Sell-side analysts expect that Perrigo Company plc will post 2.6 EPS for the current year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st were given a $0.273 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.09 annualized dividend and a dividend yield of 3.47%. Perrigo’s dividend payout ratio is -259.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRGO shares. JPMorgan Chase & Co. increased their target price on Perrigo from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th.

Read Our Latest Stock Report on PRGO

About Perrigo

(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.